Reduced refining capacity combined with weather and geopolitical intrigue have eroded diesel stockpiles in the United States to noteworthy lows. Between the years of 2017 and 2021, the U.S. averaged 34 days of distillate supply, compared to just 25 days as of October 2022. Accordingly, while the price of gasoline has increased roughly 14% this […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
Negotiations between the European Union, United States, and Iran are coming down to the wire to place Iran back in the Nuclear Deal which would dramatically boost its oil production and potentially lower prices affecting the entire oil market. The Biden Administration, on behalf of the European Union, completed its final review of the proposal […]
Read More
It has been over 4 months since Russia invaded Ukraine late February and crude oil prices are finally close to where they were pre-war, but where do we go from here? WTI crude oil prices are trading sharply lower today, down $7.86 at $96.23/barrel. Before Russia invaded Ukraine on February 24th, crude oil prices were […]
Read More
At the start of today, oil prices rose after recent losses in the previous two sessions. Brent Crude rose $0.61 to $101.30 a barrel and WTI rose $0.65 to $99.18 a barrel. “With Russian oil prices set to drop as the year progresses and it runs out of Western parts to maintain fields, and with […]
Read More
There is an endless supply of breaking news events that are impacting the oil market daily. China, India, OPEC, inflation, South America, and of course, the Russia/Ukraine war are all big item headlines that have gotten us to a market where both WTI and Brent have climbed above $114/BBL. Let’s explore some of these headlines […]
Read More
We’re now 13 days into the Russia-Ukraine conflict, and neither side shows signs of abating. Following this lead, neither do commodity charts. Two charts encapsulate the unprecedented of this conflict and will be contributing to the stagflation environment we are heading toward or already in. Let’s dive in.
Read More
As I mentioned in my Blue Skies Ahead for Crude Oil? – Guttman Energy blog post on December 22nd, WTI was trading around $71.80//barrel, above its $71.38/barrel moving average. If it settled above that level for a few days, we thought that the temporary lows were put in and we were on the way higher […]
Read More
