Mansfield is moving to Level 3 Alert ahead of the approaching Tropical Depression#9, signaling that the storm is beginning to have a fuel supply impact and internal preparations are underway. The storm is currently on track to make landfall on Wednesday morning along Florida’s west coast. Currently a tropical depression, the storm is expected to […]
This week has been a mixed bag for oil markets, with no clear direction emerging during the week. The “will they, won’t they” of the Iran Nuclear Deal kept traders on their toes. A deal would allow roughly one million barrels of Iranian oil to reach global markets by the end of this year, before […]
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 […]
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 […]
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 […]
Natural Gas News – June 1, 2022 Price of Natural Gas Could Climb Higher Summer heatwaves could also push prices higher by driving up electricity demand. Natural gas prices could climb even higher, especially if hot weather boosts demand this summer. The rising price of oil may grab most of the headlines, but another commodity […]
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 […]
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 […]
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 […]
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 […]
