At the beginning of October, we were seeing big drops in distillate prices, gas pricing was falling as well. That changed at the beginning of this week with the conflict in the Middle East. Monday and Tuesday this week had the markets spiking upwards on crude and distillate, with gas staying relatively quiet. Today the […]

Energy Market Update – September 27, 2023 Crude and products are moving higher today. We are continuing to see a battle between tight supply and impacts of high interest rates and how they affect demand. Saudi Arabia and Russia’s plan to keep collective production cuts of 1.3 million barrels per day in place through the

It appears the bulls are in control of the market. The uptrend began July 19th and has been up every day since on crude and distillate, gas had one minor down day, other than that it is all on the upside. This morning the market was fairly quiet, and thoughts were that maybe traders would

Energy Market Update: July 14, 2023 Production shutdowns in Libya and Nigeria have led to strain on inventories and strengthened demand for US crude. Libya is shut down due to protest at some of their oil fields. This has resulted in halting nearly 370K barrels per day. Shell shut down Nigeria’s loading into a terminal.

Late Thursday, the Senate passed a House-approved bill to raise the debt ceiling, sending the legislation to President Joe Biden. He is expected to sign it into law today and address the nation at 7 p.m. ET. The market had been fairly quiet this week, seeming to hold its’ breath until the decision passed, or

Energy markets are seeing gains across the board this morning. There are multiple contributing factors this week. Here are a couple of headlines we are watching. U.S. debt ceiling,  Fed rate hikes scheduled for June, China demand, wildfires in Canada. These issues were enough to push markets higher even though we had a good Department

Energy Market Update: May 5, 2023   A tug of war has been the story since mid-April with both market movement and basis. Look further down in this Energy Update for an explanation about basis. The upside started with basis in the drivers seat on April 20th. That trend continued through April 26th. The tide

Energy Market update: April 21, 2023 Crude and products are edging higher in Friday morning trade, but all three segments are still on pace for a weekly decline. A combination of slowing economic data and mid-week rising gasoline inventory numbers rekindled recessionary fears in the market. Last week the weekly jobless claims report showed an