What Is It – Kerosene

Analysis by Sydney Casey Kerosene, also known as paraffin or lamp oil, is a clear, colorless liquid that is derived from petroleum. It is commonly used as a fuel for lamps and small engines, as well as for heating and cooking in some parts of the world. Kerosene has a high flash point, which means […]

What Is It – PADD 3

After learning about PADD 1 and PADD 2 in detail, it’s time to dive into PADD 3 (Gulf Coast), which is the powerhouse of the US oil industry. From oil production in West Texas to refining and exports, the Gulf Coast sets the trend for nearly all facets of the American energy industry. Today, we’ll […]

IEA Releases New Market Report

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 […]

Mid-Week Review – June 16, 2021

Oil Prices Climb On Huge Inventory Draw The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 8.537-million barrels for the week ending June 11. Analysts had predicted a much smaller draw of 3.290 million barrels for the week. In the previous week, the API reported a draw in oil […]

Hurricane Delta Closing Down Production

On Wednesday, WTI crude closed near the $40 mark on the hopes of a narrow stimulus deal being passed as had been proposed by President Trump.  While negotiations have stalled for a large, broad stimulus package, the hope is that a small targeted deal could be passed before the election. Crude is up in early […]

OPEC+ to Discuss Plans Today

On Tuesday, WTI Crude closed relatively flat, but is moving higher this morning on bullish inventory news from the API.  The API reported crude inventories fell by 8.32 MMbbls last week.  The EIA this morning only confirmed a draw of 7.5 MMbbls in crude. The large draw would seem to indicate that the supply glut […]

Mid-Week Review – July 15, 2020

Oil slips on surge in COVID-19 infections, U.S.-China tension In the United States, infections surged over the weekend as Florida reported an increase of more than 15,000 new cases in 24 hours, a record for any state. Numerous states have rolled back the loosening of restrictions on business operations and now require mask-wearing to slow […]

Mid-Week Review – October 16, 2019

Dilemma for Oil Refiners as Surging Ship Costs Kill Margins U.S. sanctions on Chinese shipping companies and Friday’s attack on an Iranian tanker have turbo-charged transport costs, with rates on the Persian Gulf to China route at almost six times this year’s average.  Click here to read more from Bloomberg. Russia Aims To Ditch The […]

Markets Hopeful for Interim Trade Deal

Reports of the Chinese being willing to accept a partial trade deal are lifting markets this morning.  WTI Crude is trading at $53.36, a gain of 73 cents. Fuel is up this morning.  The API reported larger-than-expected draws in products are helping to buoy prices.  Diesel is trading at $1.9344, a gain of 2.4 cents.  […]

Markets Rise on Lower Output and Equity Gains

Oil prices are getting a lift this morning, a break from the five-day down streak the market has experienced since last week. Crude oil is currently trading at $54.51, up 44 cents. Fuel prices are also moving a bit higher, though the switch to November futures contracts has gasoline trading a bit lower than October […]

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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