Fundamentals in the back seat (for now)

WTI = purple, Brent = Yellow Looking at global happenings Late last week, crude oil prices hit a 15-month low as news spread of the Silicon Valley Bank collapse, instilling fears throughout Wall Street of more banking troubles to come in the near future. At the low on Friday, Brent and WTI crude were off […]

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2023 Supplier Update & “Superfund” Tax

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (IRA), which takes effect on January 1, 2023, and resurrects the Hazardous Substance Superfund Trust Fund Tax (aka “Superfund” tax) on oil and petroleum products. We want to make you aware of tax changes effective January 1, 2023, which will impact the […]

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Crude Oil Off the Lows, But for How Long?

Crude Oil prices have stabilized for now, but what is next for the energy patch? After a questionable sell-off at the end of November and early December, WTI crude prices have begun to stabilize. We are trading at $78.02/barrel today, up $1.93 on the day after going as low as $70.37/barrel earlier this month. Part […]

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Retail Gasoline Prices Falling

After a volatile year for consumers at the pump, gasoline prices are now lower than they were at this time last year.  According to AAA, the price per unleaded gallon was $3.329 last week, below the $3.343 per gallon price a year ago.  The national average could drop to below $3 per gallon by Christmas, […]

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Why Fixed Fuel Pricing?

Did you know that crude oil is now trading lower than when the Russian/Ukraine war began? Do you feel like it would make sense to lock in fixed a rate at a lower cost? What role do other global markets have on the cost of fuel? How has the market effected your budget? Crude oil […]

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Russia not Crude over Oil Price Cap

With the new $60/BBL oil price cap on Russian oil exports now in place, Russia says it will not impact their production. The move did however create a bottleneck of oil tankers in Turkey as Russian oil tankers significant drop in its oil production or exports.[1] [1] https://www.cnbc.com/2022/12/07/eu-sanctions-russian-oil-price-cap-cause-crude-tanker-bottleneck.html Since the oil price cap, 35 tankers […]

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Diesel Prices Back to Pre-War Levels

As we near the end of a volatile 2022, who would have thought NYMEX diesel prices would be trading at pre-Russia-Ukraine war levels? The answer is not a lot of people, yet here we are. NYMEX diesel prices are trading at $2.8860/gallon today, right at the levels we were trading at on February 24th when […]

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Liquefied Natural Gas (LNG) Revenues Soar

Liquefied natural gas (LNG) has overtaken pipeline gas as the most abundant and valuable form of U.S. natural gas exports. LNG exports are on track to break volume and earnings records in 2022, but the stellar short-term gains for exporters may have long-term consequences for the entire U.S. energy sector due to the resulting higher […]

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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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