Mid-Week Review – May 19, 2021

U.S. gas stations still shut, prices at 7-yr high in slow recovery from cyberattack The top U.S. fuel pipeline operator said its lines were fully operational on Monday, but it will take some time for supplies to recover fully from a cyberattack that left thousands of gas stations without fuel. Last week’s closure of Colonial […]

Range-Bound Oil Market Watches US-Iran Talks

Oil prices plunged lower this morning, retreating from their rally earlier this week that sent Brent crude prices above $70/bbl. US-Iran nuclear talks spooked markets, since a renewed deal would bring 2 MMbpd of Iranian oil back to the market. Russia’s ambassador to the International Energy Agency (IEA) commented that talks have seen “significant progress” […]

Oil Prices Rally – Gas Stations Still Shut Down

This morning the price of crude passed $70 as COVID-19 restrictions loosen around the world and investors predict demand for oil to soar in 2021. Prices have been dipping recently as a result of COVID cases’ surging in Asia and the reopening of the Colonial Pipeline (CPL), but there are optimistic signs of recovery in […]

Colonial Pipeline Resumes Operations – Gas Stations Still Short

After a cyberattack caused the nation’s largest pipeline to shut down over 5,500 miles of distribution infrastructure, Colonial Pipeline (CPL) is back up and has resumed normal operations. The company was forced to shut down the pipeline on Friday, May 7th, and, after of week of restoring capacity, is now delivering millions of gallons of […]

Colonial Outage – What Happened This Week

Fuel market conditions have evolved rapidly this week in the Southeastern US, with national media sharing news on the situation and the US President weighing in with support. Just one week into the outage, here’s what’s happened this week: How It Started On Friday evening, the Colonial Pipeline (CPL) announced a network outage that required […]

Oil Deflates as Pipeline Reopens, Inflation Fears Persist

After racing back above $66/bbl yesterday, US crude oil prices are falling back once again this morning. Inflation concerns are heating up, with the US Labor Department reporting that consumer prices rose 4.2% in April – the fastest growth since 2008. Higher inflation would seem to promote higher fuel prices, but it also leads the […]

Mid-Week Review – May 12, 2021

IEA May Oil Market Report Global oil consumption is now forecast to rise by 5.4 mb/d in 2021, 270 kb/d lower than in our previous Report. Europe and OECD Americas have been revised down by 320 kb/d and 515 kb/d respectively in 1Q21, while India’s Covid crisis led us to downgrade its demand in 2Q21 […]

A Bad Day for Pipelines

Today is a bad day for pipelines. The Colonial Pipeline, the main line supplying the East Coast with gasoline, diesel, and jet fuel, remains offline – more on that below. Today, the Enbridge Pipeline faces a critical deadline. The line transports crude oil from western Canada down to Sarnia, Ontario (passing through Minnesota, Wisconsin, and […]

Colonial Aims to Open by End of Week

The Colonial Pipeline cyberattack has been a dominant headline in news reports this week, yet oil prices seem strangely calm. Although prices have certainly risen in the Southeast, where supply outages are beginning to pop up in gasoline markets, the impact on other markets has been minimal. After an initial panic that sent NYMEX gasoline […]

Colonial Pipeline Hit by Cyberattack – Detailed Report

The Colonial Pipeline, which supplies fuel to markets throughout the East Coast, reported on Friday, May 7 that it experienced a “network outage” requiring it to shut down operations. Over the weekend, the company confirmed that the outage was the result of a cyberattack, which investigators say stemmed from a rogue group of hackers known […]

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