Analysis by Sydney Casey How much do you know about the fuel you put in your car? Consumers buy roughly 350 million gallons of gasoline every day, yet few know what it takes to get that gasoline into their car, van, boat, motorcycle, or truck. Gasoline is actually a blend of products, including a […]
It’s common for the mainstream media to comment on gasoline prices – something which impacts most consumers every day. But if you live outside the US and Canada, diesel might be the product you’d use more often. In the US, gasoline demand tends to be 2-2.5x higher than diesel demand; in the EU, diesel demand […]
Heading into the holiday weekend, fuel prices are springing higher, though not fully offsetting losses seen earlier this week. This week has been filled with volatility, with gasoline shedding 20 cents from Monday’s close while diesel fell by 30 cents. Today’s ten-cent gains undo some of those declines, but overall the week has moved in […]
Oil prices moved slightly lower again yesterday, influenced by a surprise crude build that weakened trader sentiments. Positive comments related to US-Iran negotiations, which are happening indirectly in Vienna, are putting downward pressure on the market. The US lifting sanctions on Iran would enable nearly 2 MMbpd of oil to hit global markets, offsetting much […]
Another day, another new multi-month high as WTI crude continues its vaccine rally. The FDA is vetting Moderna’s vaccine and has found it to be highly effective, setting the stage for a second vaccine approval. Additionally, the US government has secured an additional 100 million doses of the Moderna vaccine – enough to treat 50 […]
Wednesday’s EIA report helped break the market outside of its 5-cent range within which it has closed this week, but only just barely. Despite a headline build in crude inventories, the market ended the day roughly 30 cents higher – not even 1% up. After months of 5-10% daily swings, it’s remarkable how calm markets […]
The markets are roaring higher this morning, with WTI crude trading above $40/bbl once again. Today’s hefty gains come, not from any concrete change, but rather from improving confidence in the reopening economy. If the $40/bbl trading levels hold, today will be the first time WTI crude has closed above $40/bbl since March 6. Gasoline […]
WTI Crude finished the week strongly and is sharply rising in early trading this morning. Positive macroeconomic support earlier in the week from the White House and the Fed is being weighed against fears of a second wave of COVID-19. Fuel markets received support mid-week from the EIA’s inventory report, which included the first diesel […]
WTI crude prices have fallen to the $44.50/b-$44.75/b range this morning, following another sharp collapse yesterday. WTI opened at $44.69/b today, a steep drop of $1.25, or 2.72%, below yesterday’s opening price. Current prices are $44.58/b, down by $0.15 from yesterday’s closing price. Diesel opened at $1.410/gallon this morning. This was a significant drop of […]
Anticipated changes in energy consumption by light-duty vehicles in the United States are based on two factors: the amount of travel and the fuel economy of the vehicles used. The Annual Energy Outlook 2017 (AEO2017) Reference case projects a decline in light-duty vehicle energy use between 2018 and 2040 as improvements in fuel economy more […]
