EIA Analysis Suggest 2020 Diesel Is a 20 Cent Bargain

After some early morning losses, oil markets turned around yesterday despite a bearish oil market report showing net builds in oil products. Crude oil this morning is currently $51.47, down 84 cents from yesterday’s close. Fuel prices are down this morning with diesel trading at $1.8685, down 2.6 cents.  Gasoline is also trading lower this […]

EIA Calls for 20 cpg Higher Diesel from IMO 2020

After closing above $52/bbl yesterday, WTI crude prices are dipping a bit lower this morning. The rally that brought prices from $45/bbl to $50/bbl appears to be waiting for fresh news to propel the market higher. This morning as the market awaits such news, crude oil prices are trading at $51.55, down 56 cents from […]

Bullish Statements Boost Prices

Mansfield is hosting a webinar at 1PM EST to review Q4 and provide a 2019 oil price outlook. If you’d like to hear more about the trends below, Click Here to register. Oil prices are rallying strongly this morning after yesterday’s large losses. Yesterday’s $1/bbl losses were likely profit-taking after some hefty gains recently, and […]

EIA Shows Large Diesel Build, Prices Still Rallying

One week into 2019, oil prices are rising rapidly. WTI picked up $1.25 yesterday, bring total gains since Jan 2 to $5.40 as of this morning. WTI crude is currently trading at $51.20, up $1.42 (2.6%) from yesterday’s close. Fuel prices are keeping track, with gasoline briefly surpassing the $1.40 threshold for the first time […]

Stock Market Losses Spilling Over to Oil

Oil prices are gathering steam this morning, though given recent volatility it’s well within the realm of possibility that prices revert lower again. Crude oil is currently trading at $67.52, up 70 cents from yesterday’s close. Fuel prices are mixed this morning, with extremely high gasoline production weighing on gas prices while diesel trades in […]

Crude Stocks Built 3x More than Expected

Another huge loss for oil prices yesterday, with crude falling nearly $3/bbl (4%) at the end of the day in response to the API’s reported crude build. Markets have been taking a huge hit as crudes stocks return to seasonal trends. Last year, crude stocks declined during the fall despite lower refinery utilization of that […]

OPEC Production Rises, Prices Fall

Today brings another steep sell-off in the petroleum complex, with across-the-board losses for oil products accompanying a broader financial sell-off that began in China’s stock market. Crude oil is currently trading at $67.40, down $1.96 (-2.8%). Fuel prices are also taking a big hit this morning after mixed trading yesterday. Diesel prices are currently $2.2768, […]

Bullish Oil Bets Reach 2018 Low

Market-altering news was light over the weekend – although there’s still a bit of unresolved anxiety related to the death of journalist Jamal Khashoggi, which will likely fizzle out with time. Crude oil eked out some small gains on Friday but failed to re-take $70/bbl ground. Markets are anxious to see whether prices will regain […]

Week in Review

Markets are growing bearish as this year’s refinery maintenance season has thus-far brought larger crude builds than expected, keeping downward pressure on prices. As we noted earlier this week, from June through October last year, US crude stocks increased by 56 million barrels; this year, stocks fell by the 55 million barrels over the same […]

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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