Understanding Fuel Indices

The oil industry has two main, widely-used fuel indices, Argus Media (“Argus”) and S&P Global Platts (“Platts”). Each of these two companies report daily price assessments for oil products, as well as other commodities, worldwide. These assessments are compiled, throughout the day, of the numerous bulk trades being completed by commodity traders and give refiners, […]

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U.S. Shale Producers Race for Permits

Over the past few months, there has been a drastic increase in U.S. shale producers’ race to acquire drilling permits from the Federal Government. This is due to the upcoming November presidential elections and concerns that a win by Joe Biden could mean a crackdown on oil and gas exploration. According to Reuters, “As of […]

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Oil Prices Taking a Breather

Oil prices are edging lower today to $40.58/barrel as bearish sentiment is continuing to mount over concerns of a possible resurgence of COVID-19 cases over the holiday weekend and paring the pause in the incredible rally in equities.

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Cristobal Update

The U.S. Gulf Coast was hit by Tropical Storm Cristobal yesterday, causing offshore oil production to shut down by almost 24%, equating to more than 430,000 barrels per day. According to the U.S. Bureau of Safety and Environmental Enforcement (BSEE), this was a 140,000 barrel per day improvement compared to June 9th. Occidental Petroleum, BP, […]

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