What Is It – Kerosene

Analysis by Sydney Casey Kerosene, also known as paraffin or lamp oil, is a clear, colorless liquid that is derived from petroleum. It is commonly used as a fuel for lamps and small engines, as well as for heating and cooking in some parts of the world. Kerosene has a high flash point, which means […]

More Uncertainty Ahead for DEF Markets

Analysis by Alan Apthorp It’s critical for modern fleets, yet it’s been in short supply this year. Of course, we’re talking about Diesel Exhaust Fluid, the blend of urea and water that converts harmful diesel NOx emissions into harmless nitrogen and water. As we wrote at the beginning of the year, high European natural gas […]

Yesterday, Diesel Was $4.20. Now It’s $3.65. What Happened?

A new month makes a huge difference for futures markets. Diesel prices, trading based on the “prompt” November contract, settled near $4.20 yesterday. Today, as the market rolls to looking at December contracts, prices are over 50 cents lower. The lower prices today are good for consumers – it shows that markets currently expect supply […]

Week in Review – August 12, 2022

Oil prices ticked higher this week as US gasoline demand recovered, with the EIA’s Wednesday market report showing demand climbing above 9 million barrels per day. Moreover, the report showed a steep draw from gasoline inventories, though diesel and crude stocks rose during the same period. Overall, oil fundamentals haven’t changed – there’s still a […]

Gasoline Dominates Headlines, but Diesel Is the Real Challenge

It’s common for the mainstream media to comment on gasoline prices – something which impacts most consumers every day. But if you live outside the US and Canada, diesel might be the product you’d use more often. In the US, gasoline demand tends to be 2-2.5x higher than diesel demand; in the EU, diesel demand […]

M&A Insights – Oil Major Announces $5B Acquisition

Oil markets seem to be meandering lower this morning on little fresh market news. Following historic lows in April, markets seemed to interpret the lack of news as bullish – anything was better than the detrimental events in the rearview mirror. Now that markets have recovered to more “normal” levels, it’s harder to maintain momentum. […]

IEA Revises Forecast, Increases Demand Projections

Yesterday, crude prices fell from a DOE-induced rally to end the day in the red.  After the DOE released its weekly stats, the market rallied on positive crude inventory trends, only to give back those gains in afternoon trading. Markets are higher this morning on news that the IEA lowered its forecast for global crude […]

Kuwait and UAE Make Additional Cuts

Yesterday, WTI crude started the morning with a rally on news of additional cuts from Saudi Arabia.  As the day progressed a choppy sell-off ensued as fears of a second wave of coronavirus infections began to circulate among traders.  Crude markets are up in early trading this morning as signs of a recovery in demand […]

US Rig Count Hits Record Low

Oil prices are moving quietly higher after posting the second consecutive weekly gain on Friday.  This morning, Saudi Arabia announced plans to unilaterally cut production by an additional 1 MMbpd beyond their committed cuts, which is giving markets some strength. The additional cuts will bring Saudi Arabia’s output to just 7.5 MMbpd, a huge cut […]

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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