By Brian Milne, Energy Editor for Schneider Electric. The week following the July 4 weekend was brutal for those bullish oil, with crude, diesel and gasoline prices receiving a drubbing on bearish fundamental factors and downward revisions to global oil demand, with the international Brent crude price marker dropping to a three-month low, while US…
Global Oil Prices Pressured as Geopolitical Concerns Ease
By Brian Milne, energy editor for Schneider Electric. Global oil prices are down $5 bbl from early June as the market retraces a spike in value to a nine-month high triggered by concern over supply disruptions in Iraq by a Sunni militant group, with the market erasing the geopolitical premium caused by the threat. The…
Parsing Data, Events to Understand Trend in U.S. Gasoline Demand
By Brian Milne, Energy Editor for Schneider Electric. The gasoline futures market on the New York Mercantile Exchange dropped back a nickel from a fresh 11-month high of $3.1520 gallon reached June 23, but remain over $3 gallon while the U.S. retail price average at $3.704 gallon will continue to advance into July as pass…
U.S. Consumers Better Positioned Against Global Oil Prices
By Brian Milne, Energy Editor for Schneider Electric. The U.S. gasoline futures market paused June 20 from an upside price onslaught amid profit taking in the ICE Brent crude futures contract, with the consolidation coinciding with a slowdown in the advance of Sunni militants in Iraq. The campaign by the Islamic State of Iraq in…
Gasoline Prices to Rise as Promise in Iraq Upended
Supply chain dynamics impacting retail fuel prices. By Brian Milne, Energy Editor for Schneider Electric. Rising U.S. oil production, with weekly rates reaching a 28-year high in early June has reduced price volatility for crude and oil products such as gasoline and diesel, and held prices down. The growing production countered global supply disruptions, namely…
Retail Gasoline Prices Set To Decline On Softening Wholesale Costs
Prices to dip for first time since February. By Brian Milne, Energy Editor for Schneider Electric The national average price for all formulations of regular grade gasoline sold at retail outlets across the U.S. is set to decline for the first time since the start of February, pressured by lower wholesale costs as refineries near…
Driving Demand Picks Up as Weather Warms
Higher demand coupled with the refinery maintenance season have prompted a string of weekly drawdowns in gasoline supply. By Brian Milne, Energy Editor for Schneider Electric Gasoline supplied to the primary wholesale market in the U.S. poked above the five-year average for the fourth week in 2014, climbing to 8.996 million bpd during the week-ended…
More Upside for Gasoline Prices, But Top Nearing
By Brian L. Milne, Energy Editor, Schneider Electric The national average price for regular grade gasoline increased for eight weeks straight through Mar. 31 according to the Energy Information Administration, reaching a nearly seven-month high at $3.579 gallon, and there’s more upside to go. With limited exception, wholesale gasoline costs in major metropolitan markets across…
Gasoline Supply Slides while Demand Climbs
By Brian Milne, Energy Editor for Schneider Electric Implied gasoline demand, which refers to gasoline supplied to the primary wholesale market, topped the five-year average during the third week of March for just the third time this year, with apparent demand at 9.0 million bpd for the first time in 2014 reports the Energy Information…
Retail Gasoline Prices Reach Six-Month Highs
By Brian Milne, Energy Editor for Schneider Electric Wholesale gasoline postings moved higher in most major metropolitan markets across the country during the week ended Mar. 24, underpinned by higher crude acquisition costs, seasonal refinery maintenance, and the transition to lower Reid vapor pressure ratings for gasoline as the industry swaps out winter blends with…