With growing oil demand still outweighing supply, the price of crude has officially reached eight-year highs. Last week, WTI broke the $85/barrel threshold, while Brent traded at $87/barrel. As major investment banks warn that crude may climb to $100/barrel, questions have been raised about how U.S. oil producers might be hedging the forward curve and […]
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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 […]
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Today could mark the first snow fall of the 2022 winter season in parts of Western Pennsylvania and Maryland. Is your fleet ready? Recently, a crash occurred in Virginia on 1-95 when a tractor trailer jackknifed causing many other vehicles to lose control. Lanes in both directions of the interstate were blocked for at least […]
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Liquified Natural Gas (LNG) ships that were headed for Asia rerouted yesterday to Europe as they are facing a winter shortage of natural gas from Russia. European consumers are willing to pay a large premium as prices across the region surge to new peaks.
Read MoreCrude oil prices have been on a tumultuous ride for the past month, but is the worst behind us? We first learned of the Omicron variant in South Africa on Thanksgiving Day, and when financial markets re-opened on black Friday, the oil patch was terrified. As you can see in the chart above, WTI crude […]
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Earlier this week some of the largest oil companies met at the World Petroleum Congress in Houston, Texas. The Congress is an event that brings together industry and government leaders to discuss various matters including the social, economic, and environmental impacts of the petroleum industry.
Read MoreOn Tuesday, the U.S. announced it would release 50 million barrels of crude from its strategic oil reserves. This move comes in coordination with releases from China, Japan, South Korea, India, and the U.K. as an attempt to combat the prices from OPEC+. OPEC+ meets on December 2nd to evaluate their response to this move, […]
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With oil prices hitting 7-year highs just a month ago, world leaders including U.S. President Joe Biden are considering a strategic release of petroleum reserves as a reprieve to high prices and inflationary pressures. Does this really mean oil prices have topped?
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As our global economy recovers from the pandemic, energy prices increase as we continue to see inflation throughout the world. Two things that can affect whether prices at the gas pumps continue to increase are OPEC+ and U.S. shale outputs. With people resuming road and air travel, the global oil demand has almost rebounded to […]
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Many trucking businesses across the country have started to turn to fleet fuel card programs to keep their drivers gassed up while they’re on the road. These programs can be hugely beneficial no matter the size of your company or your fleet. But why should you consider working with one of the many fleet fuel […]
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