News this week has been solidly bearish, both for oil supply and economic demand. On the oil supply front, Iran submitted their response to the nuclear deal proposal. European negotiators have hinted that a deal is closer than ever, though some issues remain. Although Iran’s position is not public, news outlets have pointed to Iran’s […]
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 […]
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 […]
Fuel prices have seesawed this week, falling towards the beginning of the week but recapturing losses later on. This week, many headlines have focused on fears of a recession. With energy prices squeezing budgets – both corporate and private – and interest rates going up, there’s a real concern that the economy could suffer. Recessions […]
Yesterday, crude oil and refined fuels futures prices fell sharply, with WTI crude briefly dipping below $20 bbl after the United States announced extended travel restrictions and social distancing guidelines to last through the end of April, further denting the outlook for global oil demand. Crude prices are up this morning after climbing off 18-year […]
With America now taking the lead on number of coronavirus cases globally, fuel demand prospects for the coming weeks seems weaker than ever. Amid social distancing efforts, fuel demand is low enough now to evoke a response from refineries. India’s leading refiner has cut throughput by 25%-30%, and East Asian countries are following suit. From […]
The crude market was up slightly for the week. The major news moving markets this week started with the Fed announcing plans to buy $250 billion in mortgage backed securities and $375 billion in Treasuries this week. The Fed action was meant to energize the economy but seemed to have the opposite effect on equities. […]
