Crude Oil Crushed

WTI Crude oil prices topped $93.50/barrel on Monday and now trading at $86.21/barrel at writing. Why the significant drop? Let’s look at the fundamentals and the technical for an explanation. From the fundamental perspective, China re-affirmed its stance this week on its zero-COVID policy strategy that when a few cases are confirmed, a lockdown of […]

Read More

Low Fuel Inventory giving you heartburn?

Why all the heartburn? Are you struggling to get the fuel you need? Are your fuel deliveries late because you’re not under contract? Don’t let Low Fuel Inventory keep you up at night. Let’s describe why the fuel market is tight: U.S. refinery utilization has averaged 91.2% Refinery production is essentially maxed out domestically Distillate […]

Read More

OPEC+ Aims for Higher Prices

During the most recent OPEC+ meeting in August, the organization announced a plan to cut production by 100,000 barrels per day. At the time, Brent crude oil prices were around $95 per barrel and steadily declining. In the days following the announcement, prices went back up to around $100 per barrel. Since then, prices have […]

Read More

German Oil Control        

Three Russian oil refineries have come under German oil control, in order to regulate supply of diesel and gasoline products. This is likely an attempt to help soften the energy blow in Europe due to the Russian Invasion in Ukraine earlier this year. Not only has physical supply been tight in Europe since the Russian invasion, but […]

Read More

Diesel Prices on the Decline

The diesel future markets show signs of strength; however, prices have been on the decline over the last eight weeks with $5 per gallon diesel. According to FleetOwner, the average national diesel price on September 12th was $5.01 which is down two cents from the day prior and five cents from the average a week […]

Read More

Big Discovery in the North Sea

The CNOOC, China National Offshore Oil Corporation, has made a significant gas discovery in the central North Sea. The CNOOC, joined by Joint Venture (JV) partners Total and Edison, estimate the find to potentially 250 million barrels of oil. Glengorm, potentially the biggest find since 2008, sits 118 miles east of Aberdeen, Scotland close to […]

Read More