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 […]
Read MoreEarly Friday morning, a massive explosion occurred in south Philadelphia at the Philadelphia Energy Solutions Refining Complex. The 150-year-old oil refinery, opened in 1866 just after the Civil War, had a vat of butane ignite and explode causing Interstates 76 and 95 to close and even “rattled” homes in the South Jersey area.
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The U.S. typically sees a drop in gasoline prices as demand begins to tail off at the end of the summer travel season. This year is breaking the trend with gasoline prices sitting at their highest for the season since 2014, due in large part to the global oil price rally. AAA reports that the […]
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Among the many geopolitical issues going on in the world effecting the oil market, there have been reports this week that President Trump is considering tapping into the Strategic Petroleum Reserve (SPR) in an effort to lower gasoline prices. According to Bloomberg, “options are under consideration ranging from a 5 million barrel test sale to […]
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On May 22nd we were hoping for a market correction prior to the holiday weekend. On that day the front month NYMEX RBOB contract settled at $2.2636. Climbing from May 2nd, close @ $2.0803. A whooping $0.18 price move inflicting severe pain on your local gas station distributor leaving retail gasoline margins negative in some markets and […]
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It’s no secret that prices have sky-rocketed at the pump, but do you ever wonder how higher oil prices are affecting the travel industry, whether the mode of transportation be on land, air or sea?
Read MoreTrading is tepid today after bullish geopolitical news sparked weekly gains across the board. Technically, the market is extremely overbought, but the computers may be apprehensive to sell until any of the following issues are resolved.
Read MoreWe suggested higher gasoline prices were coming along with spring…
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