Under Pressure
As the U.S. dollar gains in strength and the demand for oil seems to be dissipating, Brent crude oil fell from $75 a barrel in July to $64 in August it’s lowest level in months. Other price related factors include the end of summer driving season and the upcoming economic symposium in Wyoming. OPEC is […]
OPEC Takes A Time Out
Oil prices continued to rise after another round of OPEC talks resulting in new pressure on the global oil supply. One has to wonder, will it be enough to restart shale production in the US? Stocks for several petroleum companies are up 50% on the year as demand goes up.
Infrastructure Deal Pushes Construction Stocks
A potential bipartisan deal on Infrastructure pushed some stocks in the construction industry up. It’s an understatement to say the ink isn’t dry on the infrastructure deal, it hasn’t been written. Indications are communications are heading in the right direction to get a deal done. The market loves a story and infrastructure is a great […]
Restaurants – Single Use Grocery Stores
As vaccines go up and virus cases go down, people are heading back out to eat. In addition to demand for food, labor and facilities going up this summer, so will the price of fuel. This could be factored in to many of the summer and fall retail gasoline price forecasts, it’s still worth noting. […]
Don’t Mess With ERCOT?
The Electric Reliability Council of Texas (ERCOT) is asking… and warning… again… AUSTIN, TX, June 14, 2021 – The Electric Reliability Council of Texas (ERCOT) is asking Texans to reduce electric use as much as possible today through Friday, June 18. A significant number of forced generation outages combined with potential record electric use for […]
Bringin’ The Rain 2021
Also bullish for fuel prices, there is a tropical disturbance in the Gulf of Mexico that has a 80% chance of turning into a tropical cyclone over the next 5-days. Hurricane Season runs from June through November and can greatly affect refined fuel product prices if refineries in TX, LA, MS, and AL are taken […]
$100 Dollar Barrels On The Wall…
U.S. crude prices hit $71.78 a barrel on Monday, their highest level in more than 2½ years, before closing slightly lower at $70.88. Prices have roughly doubled since the end of October. Some traders are using options, which allow the holder to buy or sell an asset at a specific price in the future, to […]