Cushing, Oklahoma oil stocks near all-time lows

a oil pipeline in Cushing Oklahoma

In the ever-volatile world of energy markets, a recent development has sent shockwaves throughout the industry. Cushing oil stocks, a critical indicator of oil market stability, have plummeted to near-historic lows. This sudden turn of events has caught the attention of both investors and analysts alike, leaving many wondering about the implications for the global […]

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Up, Up, and Away; Crude’s Unexpected Summer Rise

an infographic on oil prices rising

Crude oil is having an uncharacteristic mid-summer surge, providing commodity markets volatility, and driving refined products pricing higher. The outlook has been bullish for crude and refined prices for late 2024, despite global recessionary fears, and this may only be the beginning of the rise of crude oil. Numerous factors are behind the sudden rise […]

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Crude’s Equal and Opposite Reaction

Crude traders continue to remain bearish in 2Q23 despite some positive indicators that would otherwise dictate a bullish market. Fundamentals are providing support but are yielding to news cycles and the rumor mill. Expectations remain in high hope for crude as we turn into the latter half of the year, but traders remain convincingly bearish. […]

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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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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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