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 […]
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 […]
The major oil market reports were all released this week, bringing updates from the EIA, OPEC, and the IEA. Every month, these three massive reporting agencies release a report on the state of global energy markets, including forecasts of supply and demand. So what does each agency say about the current market situation? EIA: The […]
Yesterday, OPEC+ agreed to a production cut of two million barrels per day (MMbpd) – larger than the expected 1 MMbpd cut. Particularly surprising was how the cuts were made. Rather than applying more of the cuts to countries that are already underproducing (such as Nigeria, Russia, and Kazakhstan), the cuts were proportionally divided among […]
August 11, 2022 U.S. Natgas Futures Up 2% on Output Drop, Forecast for More Demand U.S. natural gas futures rose about 2% on Tuesday on a preliminary drop in daily output and forecasts for more demand this week than previously expected due to an increase in pipeline exports to Mexico. That price increase came despite […]
Yesterday, oil prices closed at $88.54, the first time WTI crude has dipped below $90/bbl since two weeks before Russia invaded Ukraine. Diesel is trading at its lowest point since April, while gasoline is at its lowest since late February. Despite the spate of bullish factors on the supply side – a floundering US-Iran nuclear […]
Oil prices are back to the top of their recent range, with WTI crude pushing higher into the $66/bbl range. Fuel prices are also elevated: diesel has traded above $2/gal for the past week, and gasoline has cost more than $2/gal for a full month. With Memorial Day weekend – the kickoff for summer driving […]
Crude closed down yesterday as OPEC+ met but could not agree on February production levels. The market is up in early trading this morning amid rising tension in the Strait of Hormuz after a South Korean tanker was seized by Iran on Monday. Middle East tensions are often a cause of rising crude prices, and […]
We’re finally in 2021, and 2020 was a wild ride that saw prices sink to negative $37.63 and rally to close the year at $48.52. In the last two months of the year, prices rallied $12.73. This morning crude is up slightly ahead of an OPEC+ meeting to be held today to discuss February output […]
Crude closed lower on Monday as coronavirus cases continued to mount, and renewed lockdown measures were enacted in the US, Europe, and Asia. Vaccine hopes and OPEC+ supply cut extensions could not outweigh the pessimism caused by the rapidly spreading infection and the growing number of deaths caused by the virus. Crude is continuing its […]
