Brian L. Milne, Energy Editor, Schneider Electric A mid-May price spike in Midwest gasoline cash differentials spurred by a trio of fluid catalytic cracking (FCC) unit outages at refineries located in the region atop of refinery upgrades that have limited the production of oil products in the Midwest continues to abate, pressuring supplier “rack” postings…
FCC Outages Point to Higher Gasoline Prices in June
By Brian L. Milne, Energy Editor, Schneider Electric A trio of unexpected gasoline producing unit outages in Illinois, Wyoming, and Kansas, atop of already low supply in the Midwest spiked regional gasoline prices to start out the second half of May, and in front of Memorial Day in what is known as the kickoff to…
Lower Crude Costs to Limit Upside in Gasoline Prices
By Brian L. Milne, Energy Editor, Schneider Electric A 1.8-cent gain in the Energy Information Administration’s (EIA) U.S. retail price average for regular grade gasoline for the week-ended May 6 halted a string of weekly increases in the average that dated back to late February, while lifting the average off a 14-week low. At $3.538…
Jobs Report Brightens Dimming Optimism Over Demand
By Brian L. Milne, Energy Editor, Schneider Electric The gasoline futures contract that trades on the New York Mercantile Exchange rallied to a nearly one-month high early in the May 6 session, bolstered by the Labor Department’s May 3rd nonfarm payroll report showing greater jobs growth than expected for April and a decline in the…