Strike Imminent?

Last week, the railroad unions rejected a collective bargaining deal with the freight railroads.  Four out of the twelve unions rejected a deal that was brokered by the Biden Administration in mid-September, and now the two sides have until December 8 to iron out a new agreement with a potential strike looming on December 9.  […]

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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 […]

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Diesel Shortage Brings Much Uncertainty

As diesel and distillate inventory levels continue to decline, countries are scrambling to make necessary adjustments. The rise in demand extends beyond our domestic borders, as Europe faces its own set of obstacles. The war in Ukraine presents the biggest challenge, and with the impending embargo on Russian oil in 2023, there is no end […]

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OPEC+ Production Cuts Rallies Market

OPEC+ alliance announced a production cut of 2 million barrels per day on Wednesday, October 5, which is shy of the 1 million barrel per day cut the market expected. As a result, oil prices have rallied substantially over the past week. This supply cut has intensified tensions between Saudi Arabia and the U.S. Administration […]

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Impacts of an OPEC+ Production Cut

OPEC+ delegates are meeting in person in Vienna on Wednesday, and it is widely expected that they will announce production cuts.  Oil prices have experienced a substantial decline over the past few months, and the cartel views this as a way to prop up oil prices.  Despite the announcement grabbing headlines, analysts and economists are […]

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Hurricane Ian Aftermath

As the prices of oil and gas continue to affect households across the United States, some are fearing Hurricane Ian could send the costs of these essentials even higher. On Wednesday, Ian, a category 4, sustained winds of 150 mph as it hit the Florida Gulf Coast. Also on Wednesday, President Biden warned oil and […]

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Europe Rushes to Assess Leaks in Nord Stream

European countries are scrambling to investigate two mysterious gas leaks in major Russian pipelines running below the Baltic Sea. You may recognize the “Nord Stream” name from current events: the two natural gas pipelines have been frequently mentioned as tangential casualties in Russia’s invasion of Ukraine. As the European Union (EU) countries have stepped up […]

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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 […]

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