Mid-Week Review – October 16, 2019

Dilemma for Oil Refiners as Surging Ship Costs Kill Margins

U.S. sanctions on Chinese shipping companies and Friday’s attack on an Iranian tanker have turbo-charged transport costs, with rates on the Persian Gulf to China route at almost six times this year’s average.  Click here to read more from Bloomberg.

Russia Aims To Ditch The Dollar For Oil & Gas Sales

Russia’s de-dollarization efforts continue, in line with Putin’s promise to lower the country’s vulnerability to the ongoing threat of US sanctions, with officials eyeing energy exports next. “We have a very good currency, it’s stable. Why not use it for global transactions?” Russian Economy Minister Maxim Oreshkin said in an interview with the Financial Times on Sunday. “We want (oil and gas sales) in rubles at some point,” he said.  Click here to read more from OilPrice.com.

EIA forecasts U.S. shale oil output to climb by 58,000 barrels a day in November

Crude-oil production from seven major U.S. shale plays is forecast to climb by 58,000 barrels a day in November to 8.971 million barrels a day, according to a report from the Energy Information Administration released Tuesday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the bulk of that increase, up 63,000 barrels a day in November from October.  Click here to read more from MarketWatch.

Carbon Engineering – Taking CO2 Right Out of The Air to Make Gasoline

Extracting CO2 from the air is one of the best ways to reverse climate change without resorting to expensive technologies, convoluted tax schemes or preventing billions of people from getting the energy they need to have a good life. If you could then make gasoline, diesel, or jet fuel from it, then you’d kill two birds with one stone.  Click here to read more from Forbes.

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.

800.695.6626

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