Are Fuel Prices Overheated?

Oil prices are trading sideways/lower this morning, with fuel markets outpacing crude losses. Over the past few weeks, fuel prices have been steadily outpacing crude oil gains, causing refiner margins – represented by 3:2:1 crack spreads – to rise. The 3:2:1 crack spread represents a refiner’s margin from converting a barrel of crude oil into […]

Crude Draw Spurs Higher Crude Prices, but Crack Spreads Fall

Oil prices were mixed early this morning, following last night’s API inventory data. The organization showed crude inventories falling by over 8 million barrels – more than double the expected draw. On the flip side, fuel inventories rose by more than expected. This morning, the EIA’s data confirmed yesterday’s outlook, with a steep crude draw […]

Is Peak Fuel Demand Near?

The oil complex remains flat this morning following last Wednesday’s $3/bbl rally; WTI crude has traded close to the $63/bbl level for four consecutive sessions. Gasoline remains above $2/gal, while diesel prices are hovering around $1.89. COVID cases continue falling in the US but rising elsewhere, keeping markets in limbo until vaccine programs gain traction […]

Will Fuel Gains Continue? Exploring 3:2:1 Crack Spreads

Markets are trading lower this morning, giving up some of the stimulus-related gains from last week. Despite positive economic data from China, continued supply cuts from Saudi Arabia, and a falling rig count in the US, traders aren’t feeling the enthusiasm so far. Despite today’s pullback, the overall trend has been higher prices, especially for […]

Fuel Prices Rising Faster Than Crude

Oil prices are revisiting their nine-month highs after closing just slightly below their high on Friday afternoon. With vaccines finally being distributed in the world’s largest consumer market, fuel markets are getting a solid lift. In fact, rising consumer optimism is causing fuel prices to rise even faster than crude oil gains. Fuel markets are […]

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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