Mid-Week Review – September 25, 2019

Oil Drops on Signs of Returning Saudi Supply as Doubts Linger

Oil fell on signs Saudi Arabia is making progress in restoring output even as uncertainty remains about the kingdom’s ability to bring back all lost supply by the end of the month. Saudi Aramco is returning most of its domestic oil refineries to full capacity after cutting back on processing to meet the crude demands of customers.  Click here to read more from Yahoo Finance.

America has a huge stash of emergency oil

Three days before Christmas in 1975, President Gerald Ford signed a law creating the United States’ first emergency stash of crude oil. At the time, OPEC had a stranglehold on the world’s supply of crude. Today the Strategic Petroleum Reserve contains 645 million barrels — the world’s largest backup oil supply.  Click here to read more from CNN Business.

The days of sharp, sustained spikes in oil prices are likely gone for now, analyst tells Jim Cramer

Global shakeups that cause dramatic and sustained spikes in oil prices are, for now, unlikely to occur, analyst Rusty Braziel predicts. “Prices may spike in the short term, but not the long term.” Click here to read more from CNBC.

Diesel consumption dropped in California, but it’s not what you think

Diesel consumption in California dropped earlier this year, and possible culprits include alternative fuels, biofuel consumption, economic slowdown and more. The answer may surprise you.  Click here to read more from FreightWaves.

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.

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