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If the Oil Complex Had a Theme Song This Week it Would be…..
Inventory Impact
Oil markets finished lower yesterday as testimony from the new Chair of the Federal Reserve Jerome Powell pushed the U.S. dollar index higher in late day trading. Coupled with new data from the International Energy Agency released yesterday regarding U.S. production, all three indices closed solidly in the red. WTI crude closed down $0.90/bbl to […]
Read MoreWill the Bulls Grow Tired Thanks to the U.S.?
Will news of the U.S. taking the crown as the world’s leading oil producer take the winds out of the bull’s sails?
Read MoreDriving Forces of the Dollar
As the US dollar continues to rise in value, commodity markets are taking notice. According to Thomson Reuters, the dollar continues to firm as minutes of the Federal Reserve’s January meeting indicated that voting members, as well as the wider group of policy makers, were more confident on the economic outlook, which is reflected as […]
Read MoreSAFETY AT THE PUMP
Safety is a critical concern when fueling at service stations. The NFPA did a study from 2004- 2008 of incidents that were reported from structure and vehicle fires. There were an estimated 5,000 fires reported per year with majority being vehicle fires. Though fuel pump accidents are rare, it is important to be informed of […]
Read MoreConfidence in the Market is Skyrocketing
Oil prices took a dip today, but that has not been the case for most of January thus far. Even with this decline today in pricing, we are still seeing the strongest beginning to a year for oil prices in five years. There has been some key factors that have helped boost oil prices at […]
Read MoreHappy Winter!
North Sea Forties Pipeline System at a Hault
The big story this week is North Sea Forties Pipeline System halt for maintenance. The pipeline supplies 40% of UK crude supply and supported the Brent/WTI price spread.
Read MoreDon’t Talk about the Exit Strategy…We Can’t Jinx It
OPEC and non-OPEC members seem to be all on the same page about an exit strategy for the global production cuts come June of 2018. The only issue that has risen is that OPEC/non-OPEC members believe that it should not be discussed until the data is analyzed in the market. Alexander Novak, Russia’s Energy Minister, […]
Read MoreU.S. Production Peaking as OPEC Prepares for Meeting
All eyes this week are on OPEC! Come Thursday this week OPEC will finally be meeting in Vienna to discuss their plans for extending production cuts. There is still discussion that Russia is undecided on how they feel about further extending the cuts, but as of right now the consensus is that production cuts will […]
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