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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Americans are seeing the highest increase in gasoline prices since 2014. The price of gas has increased almost a dollar since last year. The national average price per gallon of regular gas is $3.12 a gallon as of last Thursday. Analysts say it is expected that in July and August hundreds of thousands of barrels […]
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A common question as more and more fueling stations begin marketing Top Tier gasoline at the pump remains to be: Is the added cost worth it? What actually is top tier gasoline?
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Last December when the Pfizer and Moderna COVID-19 vaccines were issued emergency use authorization by the U.S. Food and Drug Administration (FDA), many of us thought the summer of 2021 was going to be an explosive driving season. That is certainly shaping up to be the case and fuel supply is struggling to keep up […]
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On May 7th, the Colonial Pipeline was paralyzed with a ransomware attack halting 45% of the East Coast fuel deliveries. With the Colonial Pipeline shut down, consumers began panic buying which had a major impact on the readily available supply of fuel.
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The oil complex is trading much higher this morning due to a flurry of bullish headlines: increased chances of a federal stimulus package, weaker dollar, oil strikes in Norway, and the development of Tropical Storm Delta.
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Unless you’re a bear hibernating, everyone knows the Coronavirus is causing panic and particularly panic in the markets. Speaking of bears, we are now possibly entering a bear market.
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In an effort to reduce greenhouse gas emissions from transportation, 12 Northeastern states and Washington D.C., including Pennsylvania, are weighing a regional program that would raise the price of gasoline. The Transportation and Climate Initiative (TCI) defines their program as a “bipartisan group or Northeast and Mid-Atlantic Jurisdictions” looking to “achieve additional benefits through reduced […]
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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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The events over the weekend in Saudi Arabia are causing concerns throughout the nation. The oil installations attacked resulted in the removal of six percent of daily world consumption, which will have an impact on motorists and consumers in the United States as early as today. The attack on Saudi Aramco’s Abqaiq plant in Buqyaq […]
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