Special Edition: Iran Conflict – Market Update Key Takeaways: Market Impacts: 1) Hormuz disruption risk → global crude risk premium + delivered-cost shock Mechanism: Shipping/insurance constraints will curb Gulf exports and have raised seaborne delivered costs. The direct U.S. impact often comes through higher global benchmarks (Brent) and a wider Brent–WTI spread, which lifts replacement costs for products […]

January Market Update Retail Gasoline Prices Decline for Third Consecutive Year In 2025 U.S. retail gasoline prices averaged $3.10 per gallon in 2025, down $0.21 from 2024, marking the third straight year of declines. The drop was primarily driven by lower crude oil prices caused by oversupply concerns and a weaker global economy early in […]

 June Market Update Summary  One Big Beautiful Bill Act Passed by the House of Representatives on May 22nd, The One Big Beautiful Bill Act is a major piece of tax and federal spending legislation with implications of its tax incentives resonating throughout the entire U.S. Energy Industry.  Although there are many components to the act itself, […]

 April Market Update Summary • Current Market• Tariffs and Volatility• Implications• Indicators Current Market Review Crude oil prices are a big factor here. Recent tariffs and retaliatory measures by the US and China are expected to slow global economic growth and reduce oil demand growth. This could lead to lower crude oil prices, which in turn […]

 March Market Update Summary • Refinery Closures• Impact of Tariffs• Heating Degree Days• The Transition to Summer Grade Gasoline  Domestic Refining Capacity and Demand  This year, two United States refineries are scheduled to cease operations. The Houston-based LyondellBasell refinery has already initiated its shutdown process, reducing the nation’s refining capacity by 264,000 barrels per day. Additionally, […]

 February Market Update Summary • Tariffs, Feedstock Alternative, and Canadian Crude • OPEC Update  • Presidential Priorities, Ethanol, and RVP  Tariffs, Substitution, and Canadian Crude The new presidential administration is shaking up the normal routine for oil refiners in the Midwest, as President Trump plans to institute tariffs on Canadian crude coming into the nation. These tariffs […]

Market Update – 2024 Review Summary • 2024 Market Overview• Geopolitical risk• Refinery Operations• OPEC Production  2024 Market Overview In 2024, U.S. retail gasoline prices averaged about 20 cents less than in 2023.  The U.S. retail price for regular grade gasoline averaged $3.30 per gallon (gal) in 2024, $0.21/gal less than in 2023. Lower crude oil […]

December Market Update Summary • Regional Supply Dynamics • OPEC Production Decision  • Degree Days  • Refinery Operations  Market Indicators  The U.S. domestic diesel market saw a continued decline in retail prices, averaging $3.59 per gallon, while inventories slightly increased to 219.7 million barrels. Diesel demand remained relatively weak at around 3.74 million barrels per day, […]

November Market Update Summary • Winter Weather Outlook • All Eyes on OPEC  • Historical Distillate Demand  • United States Dollar vs. Commodity Prices  La Nina and Winter Weather  Move over, Frosty – winter weather has been unusually warm the last few years, and the question on many people’s minds is whether this year is going […]