Analysis by Sydney Casey This week, the financial landscape was shaken by an unprecedented banking crisis that has left markets reeling and investors on edge. For instance, Goldman Sachs raised its 2023 recession probability from 25% to 35%, noting that risky assets like equities and commodities could face pressure. In the eye of the storm, […]
Markets are weary this morning as traders examine the latest developments across the globe. Among the greatest concerns are sanctions and production cuts on Russian supply, Saudi Arabia spiking prices on its light crude, and the latest oil rig counts in the US and Canada that could predict how oil markets will perform. After steady […]
Analysis by Sydney Casey FUELSNews will not be published on Monday, January 2, due to the holidays. We wish you a bright and merry New Year! If there is one trend for fuel markets in 2022, it’s supply shortages. Out of FUELSNews’ top ten most-read articles, the top three are related to fuel and DEF […]
The major oil market reports were all released this week, bringing updates from the EIA, OPEC, and the IEA. Every month, these three massive reporting agencies release a report on the state of global energy markets, including forecasts of supply and demand. So what does each agency say about the current market situation? EIA: The […]
The IEA released their Monthly Oil Report for August, which is packed full of headline-worthy news items. Today’s article will unpack some of the key themes: Bullish: Fuel switching is driving “soaring” oil demand for power. As natural gas prices rise and heat waves drive power consumption, more power companies are considering heating oil for […]
Welcome to our continuing FUELSNews series: What Is It Wednesday. Each week, we’ll pick a fuel industry topic to explain, so you can learn more about the market and what drives it. Want to suggest a topic? Email the author, Alan Apthorp, at aapthorp@mansfieldoil.com. If diesel is the hero of the transportation fuels world, then […]
There’s been lots of talk among analysts about the lack of refining capacity around the world. In fact, OPEC has asserted that the world isn’t lacking crude oil, but rather the capacity to convert crude oil into usable fuels. While US refining capacity is falling (a topic we covered back in May), global refining capacity […]
The diesel crisis continues even as gasoline markets are slumping. OPEC+ barely moved to increase its output goal, keeping global markets tight. And the US and Iran are heading back to the negotiation table, following the US tightening sanctions. Let’s unpack the day’s news. Yesterday, the EIA published its weekly report which showed a headline […]
Yesterday saw the entire petroleum complex close significantly lower. Crude oil fell by nearly $5/bbl, and fuel prices saw roughly 10-cent losses. One could say that prices are actually down much more. On Friday, gasoline closed at $3.49 when the August future contract expired; yesterday, the September contract closed at $2.99. That’s a 50-cent drop […]
The numbers are in, and GDP fell -0.9% in Q2, marking the second straight quarter of contraction. In Q1, the economy contracted by -1.6%. The typical definition of a recession is two consecutive quarters of negative growth, although there’s a variety of other statistics that play into the official declaration of a recession. Many years […]
