Oil at Six-Year High

Today, West Texas Intermediate crude futures traded as high as $76.98, the highest price per barrel since November 2014.  On Monday, news of OPEC+ not increasing oil production hit the news.  OPEC+ cut production by nearly 10 million barrels a day, in April 2020 to support lower demand from the pandemic.  OPEC+ has been meeting […]

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Fossil Fuels v. Renewables- The Truth, the Whole Truth, and Nothing but the Truth

In 2021, fossil fuels is a phrase that carries negative connotations. In the push for renewable energy, electric cars, ESG, and Green New Deals, the public has indulged themselves with feel-good initiatives, buzz words, and click-bait talking points without taking into consideration the real-world ramifications these plans have. There will always be a strong need […]

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May the Fourth connect U.S.

Following news that the state of Michigan is attempting to shut down the Great Lakes oil pipeline, Canada has begun discussions with the U.S. to keep the cross-border pipeline open.  The Great Lakes pipeline is vital for supplying Canadian crude oil to the U.S., but it looks like Michigan is digging their heels in.  The […]

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Dipping Into Savings

The United States Department of Energy Office of Fossil Energy announced last Friday that contracts have been awarded for the sale of crude oil from the Strategic Petroleum Reserve (SPR). The sale is for 10.1 million barrels of fuel to be sold during the fiscal year 2021. The Strategic Petroleum Reserve was established in the […]

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A sign of positive direction

Over the past few months, there has been a lot of negativity in the global fuels market.  The price war between Russia and Saudi Arabia, as well as the COVID-19 pandemic are at the top of the list when it comes to driving crude oil prices to historic lows.  However, recently there has been some […]

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OPEC+ Reaches Agreement

The Organization of the Petroleum Exporting Countries (OPEC) and allies agreed yesterday to cut production of crude oil by 9.7 million barrels per day (bpd) in May and June, 7.6 million bpd July – December, and 5.6 million bpd January 2021 – April 2022.  The 9.7 million bpd is roughly 10% of the global supply.  […]

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China Crude Crunch

President Trump recently threatened to tax, nearly $300 billion dollars of Chinese products, by 10%. The already volatile oil market, seems to have room for some extra volatility. The volatility would largely cycle around China’s response to the U.S. tariffs. If China responds by purchasing oil from Iran, analysts speculate crude could rapidly approach $30 […]

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Specification Changes Are Coming But Will Prices Soften

As we head into the month of August, the New York Mercantile Exchange front month futures shifts to September. When we think of September we think of the fall and the seasonal changes to gasoline specifications. While the price spread between the expiring August contract (summer grade) and the October contract (reflecting higher reid vapor […]

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