President Biden Calls on OPEC to Moderate Prices

Fuel prices are retreating a bit this morning, offsetting yesterday’s 3-4 cent gains. The White House is calling on OPEC to loosen their quotas, with officials at different levels reaching out to OPEC colleagues. Biden administration officials noted that OPEC+’s 400-kbpd supply increase does not go far enough to balance the market. Previous calls (and […]

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.  […]

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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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