Fuel Demand Anywhere Affects Prices Everywhere

After hitting a four-month high earlier this week, oil markets are dropping again following worldwide reports of sinking demand. In the US, gasoline demand has slowly climbed back to near-normal, but improvements have decelerated. In areas with low infection rate, demand has roughly normalized, meaning further gains won’t come until high-infection areas can also reopen. […]

Week in Review – July 17, 2020

WTI Crude finished the week higher after a choppy week of trading. The OPEC+ meeting on Wednesday dominated the news this week with the cartel deciding to ease production cuts beginning in August as expected. After a few months of 9.7 MMbpd cuts, the group will ramp down cuts to just 7.7 MMbpd. Traders had […]

IMF Cuts Global Growth Forecast Again

Prices are flat this morning as the specter of slower economic growth is weighed against potential OPEC cuts.  WTI Crude is trading at $52.87, a gain of 6 cents. Fuel is mixed this morning.  Diesel is trading at $1.9196, a gain of 1 cent.  Gasoline is trading at $1.6081, a loss of 0.6 cents. On […]

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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