4 Bearish Oil Factors – But Citi Still Forecasts $60 in 2021

With the global recovery stalling, oil markets remain under pressure this morning. A plummeting US Dollar gave oil markets a lift above $41 for a few weeks; however, the dollar is now slowly climbing from 2-year lows. Oil bulls have little to point to right now to justify a rally, leaving the bears to reign. […]

Iran Fires Missiles at Mock US Carrier

After moderate losses during yesterday’s trading session, oil prices are recovering slightly, supported by surprising oil inventory data from the API. While economic stimulus remains the critical story of the day, markets are also eyeing geopolitical unrest in some areas of the world. In the Middle East, Iran appears to have built a replica aircraft […]

Economy Recovers as OPEC+ Ease Oil Cuts

On Wednesday, OPEC+ agreed to ease oil supply curbs that occurred in August, in turn dropping oil prices. As the economy tries to rebound from the COVID-19 pandemic, there are fears that the virus could unleash a second wave and compromise the slowly rebounding market. Since May, OPEC+ have cut output by around 10% of […]

Gasoline Demand Recovering, Diesel Still Dismal

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 […]

Large Crude Draw, Climbing Fuel Demand Bolsters Market

FUELSNews will resume normal publications on July 6. Happy Independence Day!   Oil prices are back above $40/bbl following a bullish EIA report yesterday and positive trends around the country. Despite some brimming rumors of a renewed Saudi price war due to non-compliance of a few smaller OPEC countries, the group posted its lowest month […]

Record-High Inventories Will Continue Pressuring Markets

Oil prices are giving up yesterday’s gains following news that Texas will be halting its re-opening approach due to an uptick in COVID-19 cases. With the economy already teetering following months of quarantine, forecasters worry that fuel demand may once again turn lower. But regardless of the day-to-day news, a looming challenge for markets is […]

Week in Review – June 26, 2020

WTI Crude finished the week lower after a choppy ride throughout the week. The week started off higher as Trump clarified that the US-China trade deal is “fully intact,” after earlier negative statements by White House trade advisor Navarro. EIA inventory news mid-week put downward pressure on markets as crude inventories rose. Also mid-week, IMF […]

Platts Warns of Diesel Price Gains Amid IMO 2020

We all heard the hype about IMO 2020, and the projected price increases. When January 1 hit, markets watched the market – only to see a minimal impact. While marine fuel prices are definitely up, the effect has not rippled through the market. At least, not yet. In a recent article, S&P Platts warns that […]

Beyond the Rumor Mill

Tired of the oil market rumor mill? Heard too much about China and OPEC? We feel you. Oil prices have been balanced within the $50-$60 range for months now, constantly driven one way or another by speculation regarding US-China trade and OPEC production targets. Nearly every headline on both issues become irrelevant within a week […]

Diesel Draw Stokes IMO 2020 Concerns

Markets are trending sideways to lower this morning following yesterday’s continued gain for oil markets. Although prices began the day on weak economic data yesterday, the market could not let go of the bullish EIA data. Crude oil is currently trading at $56.10, down 13 cents from yesterday’s close. Fuel prices are remaining in check […]

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.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Give Us a Call Today

We are happy to discuss your business challenges over the phone and answer any questions.

800.695.6626

Send Us an Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Mansfield Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote Today

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote