Today, oil prices fell due to new COVID-19 restrictions in China and much of Asia. This morning crude oil opened at $67.88, diesel at $2.0758, and gasoline at $2.2473. The price of oil this morning was the lowest in a three-week period. This comes along with Invest 94L forming into more of a threat to […]
Oil markets are continuing to rally this morning, with no particular catalyst for the rise. In fundamental news, Libya’s production has risen to 290 kbpd – nearly triple the level a few months ago, but well below their 1.2 million barrel per day capacity. A Norweigian oil worker strike is counteracting Libya’s added supply, though, […]
Yesterday, WTI crude closed slightly higher as the gulf coast prepares for two storm systems to hit this week. In Houston, on Monday prepeparations for the storms began in earnest, as the largest refinery in the US began the process of shutting down. Motiva Enterprises said shutting down their 607 Kbpd refinery in Port Arthur, […]
Happy Thanksgiving! Markets will be closed tomorrow in observation of the holiday. FUELSNews production will resume on Monday, December 2. It’s a quiet trading day heading into the holiday weekend. Trump’s announcement yesterday that a trade deal is close was counteracted by weak inventory data. The oil complex is trading flat for the day as […]
