With the expiration of monthly fuel contracts this week, the market has turned from February futures contracts to March. The transition brought a cooler market, with crude oil dipping down to $76 this week while diesel is trading below $3/gal for the first time since early January. But that slowdown doesn’t give the full picture […]
It’s been a relatively calm week for oil markets, with some turbulence in pockets of the market, such as diesel prices. Overall, crude oil traded sideways for much of the week, though today’s trading is bringing a sharp dip lower. Most of the news this week has been bullish for oil, with labor strikes in […]
Oil prices are trending a bit higher this week, with oil closing above $80/bbl for the first time in the new year on Tuesday and Thursday. Monday was a market holiday, but prices have seen plenty of movement the rest of the week. China’s economy continues reopening, prompting the International Energy Agency to forecast a […]
FUELSNews will not be published on Monday, Jan 16 in observance of Martin Luther King, Jr Day. Publications will resume on Tuesday, Jan 17. With Europe’s embargo on Russian fuel quickly approaching, markets are scrambling to take stock of different factors to see what the impact will be. On one hand, a warm winter has […]
It’s been a tumultuous opening of the new year for oil markets. Crude oil fell nearly 10% in the first two trading sessions of 2023, marking one of the worst new year trades in a generation. Diesel prices also saw a 10% selloff early in the week, while gasoline only saw an 8% dip. The […]
Analysis by Alan Apthorp FUELSNews will not be published on Monday, December 26, or Monday, January 2, due to the holidays. We wish you a happy holiday season and a bright and merry New Year! It’s been a relatively quiet week for fuel markets heading into the holidays, but that’s not stopped the market from […]
Analysis by Alan Apthorp Fuel markets showed uneven trends this week, with crude oil rising early in the week and falling later. Diesel fuel, on the other hand, saw prices jump 50 cents from last week, before giving up almost 15 cents this morning. As always, volatility reigns supreme for the oil market. US […]
This week, oil prices fell to some of the lowest levels in months. Crude oil slipped down to the low-$70s, and NYMEX gasoline hovers just above $2/gal. Diesel prices are outperforming gasoline still, but even that fuel category has traded well below $3/gal for the week. With the year coming to a close, traders are […]
On the heels of a weak holiday trading period, oil prices are trending a bit higher this week, though fuel prices remain suppressed. Crude oil is back above $80/bbl, but diesel remains around $3.25. The mixed results reflect themes in the EIA’s weekly market report, which showed a huge draw from crude oil inventories but […]
Oil prices are down into the $70s for the first time since September as the oil market once again grapples with falling demand and a weak economic outlook. Although we’re drawing closer to the EU embargo on Russian oil, markets are also contending with declining demand. So far, price drops into the $70s have been […]
