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 […]
Every fuel market in the US is unique, with it’s own supply and demand trends. Yet markets in close proximity to one another tend to share similar characteristics. The government groups similar markets into five PADDs, with each one showing unique fuel supply and demand dynamics. By understanding each market in more detail, we can […]
Ian, which has now been downgraded to a Tropical Storm, is heading back out into the Atlantic, where its path will shift northwestward towards the South Carolina coast. Originally projected to spend two days over central Florida, the storm quickly sped through to move towards its second landfall, currently forecast to occur on the southern […]
As Hurricane Ian continues barreling towards Florida, winds and rain have already begun impacting Florida markets. All Tampa fuel terminals are now planning to be closed by the end of the day, and heavy winds are expected by tomorrow which will make deliveries impossible. Orlando terminals are planning shutdowns tomorrow, spreading the outage to a […]
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. Every year, the fuel industry braces for an unpredictable, potentially […]
This morning the IEA released their market report, highlighting both the ongoing economic recovery and the contrasting concerns over new virus variants. The IEA warns of a significant slowdown in demand recovery in the weeks to come due to unforeseen COVID-19 variant spread rates. According to the IEA, global oil demand will rise 5.3 mb/d […]
It seems like the price of everything is going up recently – goods, labor, fuel, even freight prices. In the post-COVID economy, prices are rocketing higher. Some of the statistics you hear lack meaning: consumer prices rising 5% since the bottom of the world’s worst recession isn’t exactly frightening. But in other cases, the rise […]
A larger-than-expected draw reported by the API seems to be putting upward pressure on crude markets this morning. WTI Crude is trading at $57.15, a gain of $1.05. Fuel is up in early trading this morning. Diesel is trading at $1.9144, a gain of 3.5 cents. Gasoline is trading at $1.1.5934, a gain of a […]
After moderate losses yesterday, oil markets are heading towards higher ground. Oil prices yesterday gave up 60 cents, a notable -1%, as the December contract expired, showing that markets lack confidence in physical supply tightness next month. The contract now rolls over to January, which traded 33 cents higher at last night’s close. Prices are […]
ALEXANDRIA, Va. – Global efforts to address transport-related greenhouse gas emissions and air pollution, as well as mitigate congestion in major cities, will have a noticeable impact on fuels and vehicles markets around the world. In fact, a majority of countries have already implemented relevant policies and many more are expected to follow suit in […]
