Sour Vs Sweet
A few days ago, the Maran Apollo, a 1,100-feet long oil tanker, left the U.S Gulf of Mexico for the Chinese port of Rizhao hauling a cargo of two million barrels of U.S. crude. Sitting for almost two months, the supertanker held demand-less crude during the coronavirus outbreak. This crude sitting on the tanker is […]Read More
Oil Complex Rises on Geopolitical Tension
Everyone Needs to Talk Nice
Oil prices rose by more than 1 percent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market.Read More
Tropical Storm Gordon Slams Gulf Coast
The Gulf Coast is being battered by strong winds and heavy rains courtesy of Tropical Storm Gordon, which hit the Louisiana-Alabama-Mississippi coastline Tuesday night. As the storm approached land, the winds increased speeds and threatened to be categorized as a fully-fledged hurricane. Meteorologists are predicting up to 1 foot of rain and inland flooding from […]Read More
South Koreans Snap up Crude
There’s been a lot of talk about the U.S. increasing its domestic crude oil production for the sake of exportation, but where exactly is that crude oil being shipped to? A large portion of the exports will be going to the world’s fifth-largest oil importer, South Korea. South Korean imports of U.S. crude are expected […]Read More
U.S. Becomes World Largest Oil Producer?
Early in 2018, United States crude oil production was around 9.492 million barrels per day. Since that time, U.S. crude output has remained above the 10 million barrel a day mark and currently stands around 10.7 million over the last month. The rapid increase in U.S. production is due to the thriving shale industry. However, […]Read More
Who Wants to Blink First and Raise Prices?
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 […]Read More
Who Will Come In First?
June 22nd marks the next meeting of the OPEC producers to be held in Vienna. Moving into the second half of the year it is highly uncertain if a global glut has ended.Read More
On May 22nd WTI Crude nearly reached $73 / barrel and since then prices have dipped almost 10%.Read More