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 […]

Partial Trade Deal? Not Yet…

Oil prices are trading lower this morning. Crude oil this morning is trading at $53.45, down $1.25. Fuel prices are also down this morning.  Diesel is trading at $1.9260, down 3.2 cents.  Gasoline is also trading lower at $1.6087, a loss of 3.0 cents. Crude prices are down Monday morning after Friday’s gains.  On Friday, […]

Week in Review – October 11, 2019

The crude market was up for the week.  The big driver for the week was positive sentiment around US-China trade talks.  Some reports suggest that the Chinese would be willing to accept a partial trade deal with the US – possibly increasing annual purchases of agricultural products in order to secure an interim trade deal […]

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.  […]

Economic Fears Rear Head Again

As traders refocus on macroeconomic fears, oil followed equities lower yesterday, extending the streak of crude oil price losses to seven days.  EIA reports of a larger-than-expected build in crude put downward pressure on markets.  WTI Crude is trading at $52.50, a loss of 14 cents. Fuel is mixed this morning.  Diesel is trading at […]

Week in Review – September 27, 2019

The Crude Market was down for the week.  The week started as a continuation of last week with the markets continuing to weigh the outcomes form the attack on Saudi oil infrastructure.  Despite international consensus that Iran was behind the attacks, it became clear that direct military action against Iran was unlikely.  As the week […]

Saudi Arabia on Track for Fast Recovery

News of Saudi production coming back on line and inventory builds drove markets lower yesterday and today.  WTI Crude is trading at $56.05, a loss of 44 cents. Fuel is flat this morning.  Diesel is trading at $1.9477, a loss of 0.6 cents.  Gasoline is trading at $1.6310, a gain of 0.6 cents. Crude prices […]

U.S. ethanol production capacity continues to increase

Fuel ethanol production capacity in the United States reached 15.5 billion gallons per year, or 1.01 million barrels per day (b/d), at the beginning of 2017, according to EIA’s most recent U.S. Fuel Ethanol Plant Production Capacity report. Total capacity of operable ethanol plants increased by about 4%—or by more than 600 million gallons per […]

U.S. Oil Stocks Jump, Force Prices Down

Oil prices collapsed on June 7th. They had been on a downward path since the close of the OPEC-NOPEC meeting on May 25th, but news of a potentially large drawdown in crude stocks appeared to arrest the downward trend on Tuesday, June 6th. The American Petroleum Institute (API) reported that crude inventories dropped by 4.6 […]

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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