Crude Bulls on the “Nice List”

As last minute shoppers scramble to find that awe inspiring gift for that special someone on their “nice list”, Kris Kringle appears to deliver a tight $2 range bound market for crude bulls till the end of the year.  As of 12pm EST, WTI for January delivery is up $0.25 at $57.41, HO is up […]

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Holiday Lackadaisicalness

The market is trying to find direction today after yesterday’s steep sell off in refined products caused by the DOE inventory and IEA reports; however the Forties pipeline force majeure leaves short-term price direction unclear for WTI.

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Products Build= Market Drops

Yesterday, WTI closed up $.015/bbl to $57.62, HO closed up $0.0194/gal to $1.9139, and RBOB finished up $0.0262/gal to $1.7184. After the release of the API statistics last night, those gains came right back off. The APIs reported a crude inventory draw of 5.5 million barrels and 2.0 million of that draw was in Cushing, […]

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Arctic Blast Could Wreak Havoc on the Petroleum Industry

While temperatures are going to remain above average for another week, we’re going to get hit with an “arctic blast” December 8th that could last until Christmas. From an operational perspective, truck fleets’ operability is at risk if their fuel is not additized before the cold weather approaches. From a market perspective, with distillate inventories […]

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OPEC Decision Day

The oil market is anxiously awaiting news from Vienna, Austria regarding OPEC / Non-OPEC oil cut extensions, the Energy Information Association released its weekly data yesterday. After digesting the numbers, the market settles down in refined products as well as crude. RBOB saw a drop of over four cents closing at $1.7309 / gallon, while […]

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