Fuel Prices Bounce Higher After Selloff

Fuel prices are bouncing back this morning after a steep selloff yesterday, which moderated towards the end of the day. WTI crude sank as low as $65.50 before ending the day a dollar higher. This morning, prices continue rebounding, with fuel products picking up roughly 4 cents and crude up $2/bbl. Diesel remains 11 cents […]

Renewable Diesel – Is It Right for Your Fleet?

Recently, the EIA shared an update on renewable diesel (RD), highlighting a growing transition to the new fuel product. What is renewable diesel, and is it right for your fleet? What Is Renewable Diesel Renewable diesel, also referred to as green diesel, is a relatively new market product that is chemically identical to petroleum-based diesel […]

The (Eroding) Line in the Sand for Oil Prices

On Monday, we saw the most significant single-day drop in oil prices in 10 months. Many analysts suggest this has to do with the fear that new coronavirus variants will again bring a pause to travel, in turn heavily impacting fuel demand. Today prices fell again, with crude opening at $66.60. This was the lowest […]

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 […]

Could the Driver Shortage Cause Fuel Outages?

Downstream fuel markets have been abuzz following a recent CNN report that warned of gasoline shortages this summer. The cause, though, has nothing to do with gasoline supplies. Refiners are continuing to keep up with demand and inventories – though below COVID levels – are healthy. Supply and demand are both on the rise, but […]

Week In Review – March 26, 2021

This week is one to remember – oil prices have seen $2/bbl price moves nearly every day this week! Just look at diesel markets which crashed 8 cents lower on Tuesday, gained all of that back on Wednesday, then lost another 8 cents on Thursday. And today, it’s almost back where it started! Your neck […]

More Volatility from Suez Canal, OPEC Meeting, and COVID

Oil price volatility continues this week, with huge up-and-down movements for oil prices each day. Yesterday, oil prices once again plummeted, approaching Tuesday’s low closing level. Some of the volatility is driven by the Suez Canal blockage. There are ships on both sides trying to pass through, and a surprise tanker delivery (or a decision […]

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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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