OPEC officially extended their product cuts through the end of 2018, which caused markets to run up initially before a steep sell-off, and now prices are back near where they started. Crude prices gave up 43 cents (0.7%) yesterday in anticipation of the OPEC announcement, and are today struggling[…]
ALEXANDRIA, Va. – As new high pressure common rail diesel engines have increased their share of the U.S. market, there has been an increase in reports of engine breakdowns and failures presumably related to diesel fuel quality. While some assert a causal versus a coincidental relationship between[…]
Oil markets managed to eke out some gains yesterday despite trading lower for most of the day. Light volumes have kept prices from gyrating too significantly. Crude picked up a meager 13 cents yesterday, but gave up those gains and more overnight. Currently, crude prices are trading at $57.87, 12[…]
As we get closer to the first official day of winter (Dec 21), temperatures across the country are beginning to get chilly. As we approach winter, forecasts of expected temperatures grow clearer, giving diesel-consuming fleets a better outlook of how to prepare for the winter.
Markets are on the downward trek this morning thanks to news yesterday evening that the Keystone pipeline will resume activities today, once more allowing fuel to flow from Canada to Oklahoma and Illinois. WTI crude prices have responded by falling 25 cents overnight, and continuing declines today.[…]
Prices are losing steam this morning after hitting new annual highs on Friday, with WTI crude at one point peaking above $59. On Wednesday, prices opened at $57.12, and gained 90 cents to close above $58. The Thanksgiving holiday was not enough to slow down markets, and prices ended Friday at[…]
Crude markets saw some small gains yesterday, boosted by an API report showing a 6.4 million barrel stock draw, far more than market expectations. Crude prices gained 45 cents yesterday, rising steadily higher throughout the day after a down day on Monday. This morning, crude oil prices opened with[…]
After moderate losses yesterday, oil markets are heading towards higher ground. Oil prices yesterday gave up 60 cents, a notable -1%, as the December contract expired, showing that markets lack confidence in physical supply tightness next month. The contract now rolls over to January, which traded[…]
ALEXANDRIA, Va. – Global efforts to address transport-related greenhouse gas emissions and air pollution, as well as mitigate congestion in major cities, will have a noticeable impact on fuels and vehicles markets around the world. In fact, a majority of countries have already implemented relevant[…]
After a huge rally for fuel products on Friday that reversed the week’s losses, oil markets have lost their enthusiasm. Prices are adjusting lower this morning as traders take their profits and exit the market. Although crude prices could not completely reverse their losses for the week, Friday did[…]
Oil prices are seeking higher ground this morning, looking ahead to a holiday week next week when volumes will be light. Oil markets gained back some of the losses they took earlier in the week, with markets up 85 cents (1.5%) after trading flat/slightly lower all day yesterday. Prices are back[…]
This week has been another busy week of trading for oil markets, with prices reversing their series of gains in recent weeks. Before this week, prices had gained in eight out of the past ten weeks, with a total price increase of $9.46. During that time, the largest weekly drop in prices was just 90[…]
Oil markets picked up some small gains yesterday, though nowhere near as much as they lost on Tuesday, following an EIA report that was less dramatic than the API report. Crude prices managed to pick up 27 cents yesterday, though prices once again trended lower early this morning. Prices have[…]
Editor’s Note: Many of the factors impacting oil prices are as old as the commodity market itself: inventories, production, demand, economic growth, etc. One newer factor influencing prices is the stock market through ETFs. Rising ETFs volumes are adding length to the market, which is reflected in[…]
After heavy losses yesterday following the IEA’s bearish report, oil markets are continuing their turn downward. Crude prices yesterday gave up just over $1/bbl yesterday, sinking back down to the $55 range. Prices are continuing their losses this morning, down 60 cents (1.1%) to $55.10.
(WASHINGTON) - The Environmental Protection Agency (EPA) is proposing to undo the regulatory overreach of the prior administration by repealing application of the Medium- and Heavy-Duty Truck Phase II Greenhouse Gas Emission and Fuel Efficiency Standards for the glider industry. Gliders are a[…]
Oil prices are down across the board this morning, driven by bearish data coming from the International Energy Agency (IEA) this morning. After shedding a quarter on Monday, WTI crude prices are down again by 29 cents, trading at $56.47. Prices have been trending in the $56-57 range for the past[…]
In its November Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts the price difference between West Texas Intermediate (WTI) crude oil priced at Cushing, Oklahoma and Brent, the global crude oil price benchmark, to remain at $6 per barrel (b) through the[…]
Oil markets let off some steam on Friday; crude closed with small losses that caused prices to dip below $57/bbl. Markets are unchanged this week, continuing the relatively flat movements seen last week. Prices are up just 9 cents currently from Friday’s closing cost, failing to regain the $57[…]
Oil markets are trading flat this morning, unable to move higher but also stubbornly avoiding a return to lower levels. After opening below $57 yesterday, prices picked up 32 cents (0.6%) to close the day at $57.17. Crude prices this morning are currently unchanged from yesterday’s closing price.
The week is on track to post some solid gains, thanks entirely to a sharp price hike on Monday. Since Monday, prices have generally held steady, as markets process the massive gains seen in recent weeks. In just two weeks, prices have gained over $4/bbl, an 8% gain. Just one month ago, markets were[…]
Oil markets continue trading without direction after two days of mild trading. WTI Crude shed a light 15 cents yesterday, with markets appearing comfortable for the time being with a trading level between $56-58. Markets have not traded this high in years, and high volumes and length in the market[…]
Gasoline prices: The front-month futures price of reformulated blendstock for oxygenate blending (RBOB, the petroleum component of gasoline used in many parts of the country) rose by 21 cents per gallon (gal) from October 2 to settle at $1.77/gal on November 2 (Figure 5). The RBOB-Brent crack[…]
After a huge gain in oil prices on Monday, markets posted some small losses yesterday amid profit taking. Crude prices, which opened the week at $55.97, lost just seven cents yesterday to close at $57.20. Today, after seeing prices drop in the morning, crude prices have rebounded and are slightly[…]
The Organization of the Petroleum Exporting Countries, known widely as OPEC, released their World Oil Outlook 2040 publication this week. The 364-page document lays out expectations for the coming years, including short-term, medium-term, and long-term forecasts. The forecast shows strong oil[…]
Markets rose yet again yesterday, with crude oil surpassing $57 per barrel to close the day at $57.35, a gain of 2.5%. The oil complex is reeling from a slew of geopolitical risk factors impacting producers around the world. Crude prices are calm this morning, though we said the same yesterday[…]
Cumulative sales of plug-in electric vehicles (PEVs), including battery electric vehicles and plug-in hybrid electric vehicles, reached 1.2 million worldwide in 2015. Still, PEVs account for less than 1% of vehicles in use globally. Future developments in battery technology, policy, and consumer[…]
Oil markets have leveled off, with crude oil trading flat this morning after a strong rally late Friday afternoon. Crude markets opened at $55.97 this morning, which was the highest opening price in more than two years; you’d have to look back to July 2015 to find higher prices. Crude prices are[…]
Markets are moving higher this morning after a mixed trading session Thursday. Crude oil made modest gains during yesterday’s sessions, picking up 26 cents from opening to close. Prices continue to move slightly higher this morning, gaining 17 cents to reach its current price of $54.71. Crude is on[…]
Crude oil prices have risen gently this week, while refined products saw mixed results. Crude markets have increased by 57 cents (+1.1%) between Monday’s opening price and Friday’s, with Friday prices starting the day at $54.73.
The oil complex saw mixed results after a somewhat disappointing EIA report. Crude prices fell 35 cents yesterday, as the EIA confirmed a smaller than expected draw this past week. Crude is trading mostly flat this morning, lossing another 9 cents (.07%) this morning, bringing prices to $54.21.
U.S. distillate exports have continued to increase significantly over the first part of 2017, setting record highs for three consecutive months from May through July (Figure 1) before declining in August (at least partially as the result of hurricane activity). At the same time, U.S. distillate[…]
Markets got a strong boost from a bullish API report published yesterday, which propelled prices higher overnight and this morning. Crude prices gained 30 cents yesterday to close at $54.38. This morning, crude is continuing to strengthen, gaining another 52 cents (.96%) to bring prices to $54.90.
Each week, I get calls and emails from customers inquiring about the right time to lock in fuel prices for the upcoming year. All too often, I hear comments like “Last year we didn’t time the market quite right and lost” or “Two years ago when we locked, we were up big and it really paid off. We[…]
Nat Gas News - November 1, 2017 Note: Due to a change in ICE’s policy regarding the distribution of data, starting November 1st, the Mansfield Natural Gas Newsletter will no longer provide the Physical Spot Natural Gas Price map typically found on page (2) two. We apologize for any inconvenience[…]