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Today's Fuel Market & DOE Report

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Markets were relatively unchanged Wednesday as we continue to trade sideways. A result of upward pressure from OPEC cuts and fund lengths matching downward pressure over fears of domestic supply growth, front month WTI continues to trade in the very narrow $2 range ($52-$54). It has spent most of the last four trading sessions inside the one dollar range of $53-$54. Read more

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Today's Fuel Market Report

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Markets ended the week on a high note, with both products finishing Friday up around 3 cents. The sentiment ending the week remained bullish as many looked toward the impending OPEC compliance meeting. However, market action seemed somewhat subdued on Friday, as the attention of many market participants was on the events in Washington D.C. Read more

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Proposed Tax Makes Move on Oil Markets

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This week's volatile price changes continued yesterday, as the market shook off an "on paper" bearish Department of Energy (DOE) inventory report to recoup a healthy portion of the losses seen in the past few days. February WTI had dropped by three dollars in the first two sessions this week, closing at its lowest level since mid-December and giving the "defenders of $50" bulls reason for pause. Read more

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Today's Fuel Market Report

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The NYMEX ended a strong week in rather uneventful fashion, closing near unchanged for the liquid petroleum indices. Market sentiment, though, has clearly turned from decidedly bearish to hopefully bullish. The NYMEX ended a strong week in rather uneventful fashion, closing near unchanged for the liquid petroleum indices. Market sentiment, though, has clearly turned from decidedly bearish to hopefully bullish. A late round of buying pushed December WTI into the black for the day, with that prompt contract gaining 27-cents to settle at $45.69. (NOTE: the December WTI contract expires on Monday, at which point January WTI will become prompt - and 70-cents stronger). Read more

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Oil Market Headlines Kick the Dust Up

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The oil market settled fractionally lower on Wednesday, and remains fraught with excitement / intensity / malaise (depending on your forward price view) on how the remaining weeks of the year will play out. Despite the rather non-committal settles on Wednesday, the market did see two major macro inputs during the day, each of which caused a significant price reaction (one up and one down). Read more

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An Unseasonable Fall in the Oil Complex

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Pressured by hard data confirming that OPEC increased production in October, oil prices slid again on Friday to reach new, two-month lows. As prices moved higher in the month of October, OPEC members were generally increasing their production levels. October's estimated production from the group was significantly higher than what the 'Call' on OPEC oil will be in Calendar Year 2017 (i.e. the "Call" is what experts estimate OPEC will have to produce to keep the world in balance). Read more

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Today's Fuel Market Report

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Markets were fairly quiet on Tuesday, as many still had their eyes on political spheres, both nationally and locally. After a heavy few days of energy news, topics such as the Colonial Pipeline, OPEC, and refinery issues faded. Futures spent most of the day oscillating on either side of Monday's settle. As a result, yesterday's settles were not too far from those the prior day. Read more

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Market Reacts to Pipeline Explosion

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Colonial Pipeline has shut its two main product lines in rural Alabama after an incident on yesterday afternoon that breached the gasoline pipeline. Several injuries were reported, with, regrettably, one fatality, and a 30-acre forest fire ensued after the explosion. Response crews have built an earthen dam to control the burning fuel. Ironically, the breach occurred a few miles from the pipeline leak in September, but is on the same pipeline (the gasoline line, or "Line 1"). The September leak and yesterday's explosion appear to be unrelated, however. Read more

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Oil Markets Settle with a Sigh

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The oil market ended its softest price week of the month on another down note. It shifted lower as the day progressed, on continued worries that OPEC and non-OPEC members will not agree (or adhere) to production cuts in the coming weeks and months. December WTI ended the day down a full dollar (down almost two dollars for the week), and settled at $48.70, the lowest prompt WTI settle this month. Read more

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