With the return of some Canadian oil sand production, the market is currently trading down about a cent and a half, respectively, on both HO and RBOB. Yesterday we saw another rally after the release of EIA data, which contradicted the API expectations of a 3.5 million bbl build. The EIA data showed a fall […]

Yesterday’s falling market was likely attributed to persistent selling after EIA data reported a crude stock build of 2.78 million bbls, to another record high of 543.4 million bbls, again trumping API expectations of a 1.3 million bbl build. Gasoline stocks also showed a build of 536,000 bbls, while distillates drew 1.26 million bbls. Refinery […]

Currently, WTI is down $1.28, RBOB is down $.0565 and HO is down $.0233. Oil futures found further direction this morning as reports of weakening demand in China and the global supply glut are coming back to fruition. China, being one of the largest oil producers, as well as consumers in the world, is feeling some […]

The sound of Mark Morrison’s “Return of the Mack” is filling the air this morning as OPEC’s secretary general said that OPEC and non-OPEC producers are looking to once again discuss a production freeze at OPEC’s June meeting. Return of the freeze? Most were on board with the market dropping back to values we saw in January […]

Oil prices are relatively flat this morning as the latest API data from last night showed a build in crude stockpiles of 3.1 million barrels, coupled with a draw in Cushing.  The DOE just reported this morning a build of over two million barrels, with draws in both gasoline and distillates. 

Yesterday, HO settled barely up $0.0037 to $1.2359 and RBOB fell $0.0247 to $1.4365. May WTI closed down 58cts/bbl to $39.78/bbl. This morning the market appeared to be indecisive, as bearish sentiment following Sunday’s “no freeze” decision in Doha was not enough to drive a collapse in oil prices. The market is now trading up 4 cts on HO and over […]

Yesterday, EIA data showed an unexpectedly large 4.9 million bbl draw in U.S. crude stockpiles, the largest decline since January 1. This was fundamentally driven by a substantial draw in the Gulf Coast due to refinery utilization reaching 95% of capacity, as well as a drop in imports. The large draw contributed to the market […]

Both refined products and crude are pushing upward following the terrorist attack in Brussels, Belgium this morning. Two blasts in the Brussels Airport departure hall and one at the nearby underground subway station killed at least 26 people and wounded 130 more. Belgian authorities have confirmed that the airport attack was a suicide bombing.