The oil patch is rallying today being led by refined products. This is due to the fact that Hurricane Sally has left a trail of “catastrophic” rainfall in Alabama earlier this week and is now barreling through the Carolinas and is hindering supply at petroleum terminals.
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Prices in the oil sector are under pressure today prompted by a gigantic build in distillate inventories last week as reported in today’s Department of Energy (DOE) petroleum report.
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The U.S. Environmental Protection Agency (EPA) Administrator, Andrew Wheeler recently said that he anticipates the new Corporate Average Fuel Economy (CAFE) Standards rule to be finalized within the next month or two. The primary questions to answer at this point are, what does the rule seek to accomplish and how does this affect heavy-duty trucks?
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As the end of this week winds down and people prepare for the holidays next week, light liquidity will most likely be the name of the game in our energy markets. Light liquidity means trading volume is lower than normal which is to be expected during this time of year. Therefore, the bid/ask spreads are […]
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As everyone woke up to the first punch of winter weather this morning, as a fuel distributor, it certainly makes us think about the low level of diesel inventories in PADD 1 and the potential impact it will have on our customers this winter.
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Analysts are getting increasingly worried that the refining industry will not be prepared in time to meet the lower sulfur regulation under the new International Maritime Organization (IMO) set to begin January 1, 2020 and will subsequently increase diesel prices in relation to crude oil.
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According to a survey by the Federal Reserve Bank of Dallas, the cost of profitably drilling a shale oil well in the US has fallen to a modern low of $50 per barrel, likely ensuring the growth of the onshore shale industry for years to come. The decrease reflects many factors including softer demand from […]
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On April 3 2019, Ohio Governor Mike DeWine signed a bill which will increase the gasoline and diesel fuel taxes for the state. Starting on July 1st the state tax on diesel fuel will increase by 19 cents to a total of 47 cents per gallon. The 67% increase will bump Ohio to the 6th […]
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Earlier this week, California senator Nancy Skinner proposed a daring bill that targets air quality and limiting greenhouse gas emissions. The bill would oblige the California Air Resources Board to, “require a 40 percent reduction in diesel emissions by 2030 and an 80 percent reduction by 2050.” This is not the state’s first proposed bill […]
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On December 26th NYMEX low traded at $1.6205 per gallon. Since then, the price has moved higher to $0.27 per gallon moving ever closer to the $2.00 mark.
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