U.S. Considers Strategic Reserve Sell-Off

This morning prices fell again, following the same trend of the previous session. These sharp decreases in prices come after the United States government said they would consider the idea of selling oil from their strategic reserves. Today crude oil opened at $77.00, diesel at $2.4377, and gasoline at $2.3048. The Strategic Petroleum Reserve, or […]

Biden Considers Lowering Renewable Fuel Requirements

Fuel prices are recovering a bit this morning following yesterday’s 7-year high. Traders are closing out positions to cash in their gains, an action known as profit-taking. At the same time, last week’s filing from the Securities Exchange Commission (SEC), which tracks commodity market trading activity, showed that hedge funds and other institutional investors are […]

Mid-Week Review – October 6, 2021

Hyperinflation Could Send Oil Prices Above $180 Last year, shortly after the World Health Organization (WHO) declared Covid-19 a global pandemic, governments everywhere unveiled massive monetary and fiscal stimuli (over $15T globally) in a bid to forestall the economic fallout of the pandemic. The U.S. federal government stepped in with a broad array of measures, pumping about […]

Oil Markets Hit 7-Year Highs, Fuel Prices Soar

Oil markets are experiencing some explosive growth this morning following news that OPEC is sticking to its current output strategy. Both diesel and crude oil are trading at 7-year highs, while gasoline trades close to multi-year highs. Post-pandemic supply chain challenges have been universal across different industries, and oil markets are beginning to feel it […]

Natural Gas News – October 5, 2021

Natural Gas News – October 5, 2021 Henry Hub gas futures prices flirt with $6 level amid sustained supply crunch NYMEX Henry Hub prompt-month futures surged briefly to over $6 in Oct. 4 trading as US gas production stumbles below 90 Bcf/d with storage inventories still trailing typical pre-winter levels. The November contract ended trading […]

PPL Main Lines Shut Down – OPEC+ Meet Today

This morning crude opened at $75.90, hitting a high of $77.26 so far. With diesel and gasoline opening at high prices of $2.3826 and $2.2450, respectively, there seems to be a trend of rising prices ahead of the much-anticipated OPEC+ meeting later today. Also making headlines, a southeastern fuel pipeline has been shut down after […]

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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