In FN’s new “What’s the Word” segment, we’ll learn from Mansfield’s Supply Team what’s driving fuel prices right now. Today’s FUELSNews commentary comes from Mansfield Supply SVP Andy Milton, writing about this week’s continued trend of falling US fuel inventories. Even with refinery utilization bouncing higher again, diesel has yet another inventory draw – although […]
Yesterday the EIA released its monthly Short-Term Energy Outlook, or STEO, to provide guidance on energy market fundamentals. Notably, the agency revised total world oil production down by .5 million barrels per day (MMbpd) compared to their April report, leaving demand mostly unchanged. The downward revision comes mainly from reduced Russian output, which they reported […]
Several years ago, a branch of the United Nations passed an environmental regulation requiring marine vessels to reduce their sulfur emissions. This obscure policy change – which exploded in the literature around 2019 – was known as IMO 2020. At the time, FUELSNews covered the change in detail, since the change was forecast to cause […]
Oil prices are trending lower this morning after steady gains last week, though crude prices remain above the $100/bbl mark. Last week, gasoline prices hit a record closing price of $3.75, marking a new all-time high heading into the summer months. Although the world continues to struggle with sourcing enough oil and refining capacity to […]
Diesel fuel has become the focal point for oil markets, showing more tightening than other refined fuels or crude oil. This week, diesel stocks hit a 14-year low, trading at their lowest point since 2008 and 2005. According to a Reuters analysis, that could be detrimental for the economy. A recent Reuters article noted that […]
This week readers learned about the European Union and their crude ban, how American inflation is continuing to rise, and East Coast diesel prices skyrocketing this week. Over the weekend, the European Union started to lean heavily toward completely banning Russian oil imports by the end of 2022. Diplomats from the EU engaged with European […]
Natural Gas News – May 5, 2022 Global Natural Gas Crunch Amplifies U.S. Refining A global shortage of natural gas is giving U.S. fuel makers an edge over European rivals. Refiners rely on natural gas as a crucial source of heat to distill crude oil into products such as diesel and gasoline. In the U.S., […]
Yesterday, we published a supply alert for the East Coast based on dwindling inventories and tightening supplies. Much of the supply challenge is caused by backwardation – with future diesel prices trading below current levels, those holding fuel inventories lose money if they carry more fuel. This has been particularly challenging in the Southeast, impacting […]
The East Coast is experiencing a tightening of diesel fuel supplies due to market forces, putting pressure on last-mile fuel deliveries. As a result, fuel prices are rising along the East Coast, and supply is taking longer to secure in some markets. In a recent FUELSNews article, Mansfield reviewed the effects of volatility on the […]
On Monday we talked about the possibility of the EU banning Russian crude altogether in response to the ongoing conflict in Ukraine. You can find that article here. Now, more details are emerging about this new ban on Russian product, sending prices upwards of +4% today. Today the president of the European Commission laid out […]
