The oil patch is taking a breather today as February WTI crude trades lower by $0.86 to $63.09/barrel. Much of the bearish sentiment today is being attributed to the IEA monthly report which is estimating a larger increase in U.S. production in 2018 than originally thought. This, coupled with the fact that oil is still […]
Read MoreImprove Fuel Performance with Winter Additives
Have you ever experienced engine problems on cold winter days? Diesel-powered engines endure harsh weather conditions during these winter months. Issues such as icing and gelling of fuel can disrupt your operations. How can you protect your fuel from these common cold-weather problems?
Read MoreWill the Restart of the Forties Return Bears After the Holiday?
Ineos may have just put solid resistance in oil prices. The pipeline operator said yesterday it is expected to complete repairs at the end of this month on the Forties pipeline in the North Sea. It will begin a gradual restart to the 450,000 barrel per day crude oil pipeline and return it to normal […]
Read MoreHappy Winter!
A Burst in Bullish Bulletins
Refined products trade higher today as cold weather is forecasted to return, Nigerian oil workers strike, concerns linger about the Forties pipeline force majeure, and the U.S. oil rig count dropped.
Read MoreHoliday Lackadaisicalness
The market is trying to find direction today after yesterday’s steep sell off in refined products caused by the DOE inventory and IEA reports; however the Forties pipeline force majeure leaves short-term price direction unclear for WTI.
Read MoreNorth 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 MoreArctic Blast Could Wreak Havoc on the Petroleum Industry
While temperatures are going to remain above average for another week, we’re going to get hit with an “arctic blast” December 8th that could last until Christmas. From an operational perspective, truck fleets’ operability is at risk if their fuel is not additized before the cold weather approaches. From a market perspective, with distillate inventories […]
Read MoreOPEC Decision Day
The oil market is anxiously awaiting news from Vienna, Austria regarding OPEC / Non-OPEC oil cut extensions, the Energy Information Association released its weekly data yesterday. After digesting the numbers, the market settles down in refined products as well as crude. RBOB saw a drop of over four cents closing at $1.7309 / gallon, while […]
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