Mid-Week Review – January 26, 2022

EXPLAINER: Why are oil prices high, and any relief in sight?

Anyone who’s bought food, paid rent or looked for a used car recently has come up against the billowing inflation that has engulfed the U.S. economy. And, with surging oil prices keeping gasoline high, so has anyone who’s filled up a car. Energy costs have been one of the main drivers of what’s become the highest inflation in a generation. Click Here to read more from AP.

Oil prices are up but the taps aren’t flowing like they should be

The price of oil is at a seven-year high, above $88 dollars per barrel. Demand is rising and may surpass pre-pandemic levels by the end of 2022, the International Energy Agency forecast last week, as the global economy seems not to have been stalled by omicron. And yet, many top oil-producing countries are falling short of their quotas. What gives? Click Here to read more from Quartz.

Oil Price Rise Blamed in Part on OPEC, Russian Output Shortfalls

OPEC and its Russia-led partners have promised to increase oil production to pre-pandemic levels this year but are falling short of those public commitments, stoking fast-rising global crude markets. Last month, the Organization of the Petroleum Exporting Countries and its Russia-led allies increased their collective production by 250,000 barrels a day, or 60% of what the two groups promised for the month, according to the International Energy Agency. Click Here to read more from WSJ.

Russia issues new warnings as U.S. steps up support for allies in Ukraine standoff

Russia warned it would take “retaliatory measures” if its demands are not met and dismissed new Western threats of sanctions on Wednesday as the Kremlin showed no signs of backing down in the standoff over Ukraine. While Moscow deployed more forces to its neighbor’s frontier and held new military drills, the United States stepped up efforts to support European allies and counter the Russian threats. Click Here to read more from NBC.


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.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Give Us a Call Today

We are happy to discuss your business challenges over the phone and answer any questions.


Send Us an Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Mansfield Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote Today

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote