Week in Review – July 15, 2022

This week saw yet another selloff in fuel markets, echoing last week’s drop and recovery pattern. Like last week, prices are rising once again on Friday. This time around, though, crude oil has not quite recovered the $100/bbl mark. This week brought news that inflation has climbed to 9.1% year-over-year, the highest reading in decades. […]

Dominos Fall as Russian Aggression Continues

Oil prices are down significantly this morning, reaching as low as $100.68. As Russian oil supply continues to be disrupted by sanctions, the effects are spreading, as evidenced by the Kazakhstan supply issues. Russia’s invasion of Ukraine set off a domino effect throughout the oil supply chain, and now those dominos are falling for producers […]

Western Leaders Meet Over Ukraine Crisis

Today, oil prices are stable following an international summit of western leaders meeting on the Ukraine crisis to determine next steps. Three separate meetings of NATO, the EU, and the G7 revolved heavily around Russian sanctions, military aid, and additional pressure that could be applied. So far, markets aren’t perceiving much change for oil markets […]

Global Diesel Shortage – Could It Happen?

Oil prices are rising on reported damage to the Caspian Pipeline Consortium (CPC), impacting Russian and Kazakh oil exports. Stormy weather in the Caspian Sea damaged the pipeline, which pumps out 1.2 million barrels per day (bpd) to the Black Sea for global distribution. Repairs are expected to take over a month. Approximately 85% of […]

EU Considering Russian Oil Ban

This morning crude prices are up as the news of a potential ban of Russian oil by the EU makes its way through markets. Today WTI crude is at $109.05, with diesel at $3.7797 and gasoline at $3.3461. After recent events in eastern Europe, the European Union nations will decide in the coming days whether […]

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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