This week was stacked with important headlines including what to expect to pay at the gas station in 2022, freezing temperatures in major cities, prices reaching two-month highs, and surging oil prices predicted for 2023 and beyond. According to the U.S. Energy Information Administration (EIA), expect crude oil prices to hover around the $70 mark […]
Starting off the week we saw headlines that warned of colder weather making its way across much of the southeast. Today alone over 60 million people are under winter alerts, with schools and government entities to be closed down. With this cold front, new storms have emerged across much of the south, causing more trouble […]
This week was stacked with important headlines including deadly tornadoes, IEA reports, and NFL outbreaks showing the growing strength of the virus variant. Over the weekend, tornadoes ripped through six states, causing severe damage, and killing over 80 people. On December 11th, the Arkansas and Kentucky governors declared states of emergencies in their respective states. […]
On Monday, news started to hit the market that there could possibly be some positives coming with the Omicron variant that were not previously thought of. The main news was that only mild symptoms are being seen around the world. This comes after many health officials suggested that this could be a more extreme version […]
This week we started out by reviewing what happened during the Thanksgiving break. While there were a few new things to shake up the market, none were bigger than the Omicron variant, strategic petroleum reserve release, and inventory news. Also making headlines was information about the Transmountain Pipeline outage. The Transmountain Pipeline, which ships crude […]
Starting off the week we saw oil prices decrease on new expectations of increasing energy supplies. With United Nations talks ending on Saturday, news circulated of a deal pinning global warming heavily on fossil fuels. The two-week meeting in Scotland focused specifically on climate change, and several sessions focused on how to curb emissions enough […]
Bank of America has raised their forecast again, saying Brent crude could hit $120 bu the end of June. This exceeds the majority of other major bank forecasts. Goldman Sachs recently updated their forecast as well, noting upside risk to their $90/bbl oil forecast. Goldman reported that up to 1 million barrels per day of […]
On Monday, we reported that fuel was again setting new price records. Oil markets continued setting new highs, with diesel prices heading towards $2.60, a price not seen since October 2014. It’s worth noting that at no time in diesel market history have prices stayed at $2.60 – prices only pass that level on their […]
This week oil headlines saw similar patterns of prices hitting multi-year highs. This came mostly with the fact of tighter supply around the world at a time when critical weather is making its way into the northern hemisphere. Lastly, this week we saw another inventory draw that sent fuel to new highs. Along with prices […]
WTI Crude opened the week at $75.90. Prices were extremely volatile this week with crude reaching seven-year highs. Friday opened at $78.86, an increase of $2.96 from Monday. Diesel opened the week at $2.3826. Similar to crude, diesel was extremely volatile this week. It opened Friday at $2.4690, an increase of $0.0864 from Monday. Gasoline […]
