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It has been yet another bizarre week in the fuel world, although we are relatively numb to the bizarre. Almost two weeks after the removal of the former Venezuelan dictator, markets jumped roughly $.20 as focus shifted to the next crisis, Iran. One would have thought we would see some additional downside or at least a calm period as the US tries to figure out its restructure plan for Venezuela.
The period between Christmas and New Years is historically a calm one in the fuel markets. Traders tend to balance out positions, end user demand dips with time of and...
Like most things, it has taken me a while to catch on. (except the bold 12-5 Patriots prediction) But I think I may have finally understood what the new obsession with...
In a world of online shopping and self-checkout, we often lose sight of the things that really matter. We got to this place because of our hectic lives, be it at home,...
It’s always the final mile, the last yard, in our case, the last $.15 that is the toughest. Coming off of the Holiday break, the collapse of futures has eased somewhat....
Diesel futures continue to be stuck in this $.20 range since mid-summer, with it’s cousin Gasoline in the same funk. Economic policy and factors appear to be the driving...
Diesel markets jumped Tuesday after the long weekend on news of US warships positioning themselves off the coast of Venezuela. The official stance is that they are...
The on again off again foreign policy approach has now reached “ludicrous speed”. In a matter of hours, a delay for Chevron refining operations in Venezuela was granted...
Fuel prices sit about $.30 higher today than the beginning of the month as we broke out of the comfortable range in MAY through JUNE. The three week rally can mainly be tied to production cuts, unpredictable inventory reports and mostly an optimistic view on the overall health of the US economy. The bright side is we are over $1.00 lower than this time last year. The question remains, does this rally have any legs?
Prices have been trending upward this week, largely based on OPEC following through on production cuts. Namely, we saw a drop in output of around 800K bpd in January by its member nations. This would seem to indicate that the so called "OPEC+ deal" to cut output and thus global oversupply is actually being followed, and it appears it is starting to have the desired effect - stabilizing prices higher than we have seen over the past year or so.