Possible Iran Deal Sends Fuel Prices Tumbling

This morning, oil markets saw prices sharply lower as headlines suggested that the Iran nuclear deal may be close to completion. The EU has been attempting to broker a deal between the US and Iran to allow inspections to resume for Iran’s nuclear facilities and to allow Iranian oil to flow to global markets. The […]

EU Russian Oil Embargo – What Does This Mean for U.S. Consumers Long Term?

Now that we have had time to digest the EU Russian oil embargo. What does this mean for U.S. consumers long term? Considering the world works to balance towards Supply & Demand equilibrium. High prices in one part of the world triggers supply movements to compensate. Thus, indicating that price is the ultimate trigger and […]

Will Oil Reach $140? Goldman Says Yes

Oil prices are rising this morning as summer gasoline prices continue to bode ill for consumers. In many parts of the United States, gasoline prices are well above $5/gallon as reported in Monday’s edition of FUELSNews Daily. With prices continuing their trend upward, many are saying that oil will reach a $150/bbl mark. This week […]

Mid-Week Review – December 22, 2021

Oil prices steady as Omicron caution lingers Oil prices were steady on Wednesday as fears of tight supply were offset by COVID-19 concerns after Singapore suspended quarantine-free travel and Australia renewed its vaccination push due to a surge in Omicron variant cases. U.S. West Texas Intermediate (WTI) crude futures were unchanged at $71.12 a barrel […]

Mid-Week Review – December 23, 2020

Pretty soon, we may need more oil than we can produce The oil industry has always been a boom-and-bust business, and 2020 will go down as the biggest bust in the industry’s history thanks to the double whammy of the coronavirus pandemic and the spring price war between Saudi Arabia and Russia. Click here to […]

Russia Wants to Bring Production Back Online

On Tuesday, WTI Crude was supported by the market’s growing confidence in OPEC+’s ability to bring the market into balance. Markets closed yesterday with gains near 2% after data showed an uptick in demand as more cars get back on the road.  In early trading this morning, the market is giving back some of yesterday’s […]

Oil Demand Could Exceed Pre-Crisis Levels

Coming off a long weekend, oil is climbing to fresh highs this morning as positive sentiment endures. The market continues with the mantra “no news is good news” – another day without a major uptick in COVID-19 cases and no unexpectedly low economic data constitutes a win.   The IEA’s Executive Director commented this weekend that low oil prices could drive demand […]

“Historic” OPEC+ Cuts Fall Flat

After significant bickering and drama last week, the OPEC+ group agreed on a historic production deal, cutting world output by 9.7 million barrels per day. But following a long holiday weekend, markets don’t seem too enthusiastic about the deal. Who Made the Cuts? As a reference, the OPEC+ group contains 10 members of OPEC as […]

US-China Sign Phase-One Trade Deal

Crude prices are relatively flat this morning.  WTI Crude is trading at $58.22, a loss of one cent. Fuel is flat and mixed in early trading this morning.  Diesel is trading at $1.9066, a loss of 0.4 cents.  Gasoline is trading at $1.6580, a gain of 0.4 cents. President Trump and Chinese Vice Premier Liu […]

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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