EIA Reports Biggest Petroleum Draws in 18 Months

Prices whipsawed yesterday, plunging by a dollar early in the day before rising following the EIA’s bullish inventory report. By the end of the day, prices closed less than 10 cents off from Wednesday’s closing level. This morning, prices are trading slightly lower, with gasoline leading the way. The EIA’s weekly report showed a crude […]

Week in Review – October 16, 2020

WTI crude finished the week slightly higher while products finished lower by a small margin. A trifecta of rebounding supply caused a moderate selloff on Monday. On Sunday, US workers began returning to Gulf platforms that had been evacuated ahead of Hurricane Delta. In Libya, force majeure was lifted from its largest oil field, Sharara; […]

3 Supply Sources To Watch This Week

Around the world, crude oil supplies are returning from temporary shutdowns, causing oil prices to shift lower once again after last week’s rally sent prices to a high of $41.19 on Thursday. Hurricane Delta has passed, allowing Gulf oil production to return to normal. The powerful storm shut down the most Gulf production since Hurricane […]

Week in Review – August 28, 2020

This week followed a classic “buy the rumor, sell the fact” pattern, with fuel markets spiking ahead of Hurricane Laura before shedding gains later in the week. From Monday’s opening level to Friday’s, WTI Crude finished the week slightly higher.  The effects of the twin storms hitting the Gulf Coast were priced in early in […]

What If Hurricane Laura Had Been Worse?

Oil prices are trading sideways this morning on light headlines. With Hurricane Laura passed, oil companies are reopening offshore rigs, refineries, and fuel terminals, and so far all indications, fortunately, point to minimal damage. Peak hurricane season is just two weeks away (Sept 10), so markets will continue vigilantly tracking Atlantic conditions. Weather forecasters hinted […]

IEA Downgrades 2020 Demand Forecast

On Wednesday, WTI Crude closed higher on bullish inventory news confirmed by the EIA. Crude and products had draws with crude having a larger-than-expected draw and diesel posting surprise declines as well.  WTI Crude is down in early trading this morning as gains from bullish inventory news are tempered by bearish news coming from the […]

Week in Review – August 7, 2020

WTI Crude finished the week higher amid a large crude draw mid-week and falling rig counts. Higher refinery utilization helped WTI crude stocks fall this week, but demand for products could not soak up all the excess production as distillates and gasoline inventories increased. Rig counts have fallen 67% from March highs to 263 active […]

Stimulus and Fed Meeting Will Dictate Week’s Trading

Oil markets are seeing light activity this morning following Friday’s news of the first weekly increase in US oil rig counts since March. The US economy is in focus for oil markets today, as two major releases are expected this week. First, Senate Republicans today will unveil their latest economic stimulus package, which most expect […]

OPEC+ Meets This Week to Review Oil Cuts

A late-breaking price rally on Friday brought crude oil prices back above the $40/bbl threshold, where they remain this morning despite a downward turn. Rising optimism across all financial markets helped deliver a strong close in equities and commodities last week. In addition, NY fuel prices (the trading point for NYMEX diesel and RBOB futures) […]

IEA Raises Demand Forecast, Warns of Downside Risk

Yesterday brought a sharp break from the oil market’s earlier stability. Crude prices shed over $1/bbl as several companies, including Wells Fargo and United Airlines, announced employee layoffs following a dismal jobs report. Unemployment claims have fallen precipitously from their March peak but remain double the highs of the 2008-09 recession. Rising coronavirus cases in […]

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