Diesel and gas continued to rise throughout the morning, but as of 11:45 AM EST, both are falling closer to even. Over the past two days the market surged upwards on products and crude. The U.S. dollar weakening over that time period could be a major culprit. The dollar is set for the biggest one […]
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Yesterday, the market seemed to finally reflect bearish sentiment, and is continuing to push downward this morning on fears that stats released today could likely indicate more bearish news. WTI crude closed down $1.32/bbl to $37.18, RBOB closed down $0.0217/gal to $1.4226, and HO finished down $0.0215/gal to $1.1965. HO is currently trading at a […]
Read MoreOil prices continued to rise on Monday to a three month high with Brent closing up 5.5% to $40.84, breaking through the $40 per bbl mark. WTI also closed up 5.5% to $37.79. The primary driver for the rally appears to be a decline in U.S. shale production, which had been maintaining a consistent level […]
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Last week’s rally has continued through the weekend into early trading Monday morning. WTI crude has continued its wayward path north, up $1.19 to $37.11, which is over $10 stronger than it was less than three weeks ago. Additionally, both heat and RBOB continue to strengthen, up $.0344 and $.0305 respectively.
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As the market continues to increase higher on crude, let us take a look back at February to discuss highs and lows. The low of the entire month was on February 11th, when crude fell to $26.05 a barrel. On that same day, crude reached a high of $27.48. Two weeks later crude hit a […]
Read MoreNow that bitterly cold temps are upon us, you could run into some unexpected fuel operability issues if your equipment sits unused for days and/or you haven’t properly maintained your tank(s). Here are some quick tips to keep your equipment running smoothly:
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As the Denver Broncos, with Peyton Manning at the helm and probably for the last time, gallop victoriously into the night after bullying the Panthers offense, we enter a new week of trading accompanied by several bearish sentiments: Venezuelan oil Minister Eulogio Del Pino has been on tour trying to persuade top oil producers to […]
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Yesterday, March WTI crude closed up $0.85/bbl to $32.30, HO finished up $0.0575/gal to $1.0252, and RBOB finished down $0.0015/gal to $1.0457. This morning HO is trading up about $0.0250, likely as a result of increasing talk among OPEC and non-OPEC countries regarding production cuts. RBOB is up about $0.0500/gal.
Read MoreThe International Atomic Energy Agency (IAEA) is expected to release its report regarding Iran’s compliance to curb its nuclear program, possibly at the conclusion of today’s meeting in Vienna. The report is expected to pave the way for Western sanctions, including oil exports, to be lifted. There are concerns that these additional Iranian barrels will […]
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Crude futures can be seen on the rise this morning due in part to rising geopolitical tensions in the Middle East. Over the weekend, following the execution of a noteworthy Shiite cleric and a retaliation attack shortly thereafter, the Saudi government cut its ties with Iran. Consequently, WTI this morning is up $0.75 to $37.79 with […]
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