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A Few Certainties Among Uncertainty in the Oil Market

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The September RBOB and Heating Oil contracts expired with a flourish, with that gasoline contract settling at a multi-year high and adding to the 50-cent price rise of the last week. Resupply dates and volumes remain very much up in the air for many East Coast locations, as product is still slow moving in the Colonial Pipeline and more delayed refinery startups are announced: Read more

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Fuel Supply Alert

PAPCO | World Fuel Services thoughts remain with those most affected by the devastation of Hurricane Harvey and its aftermath, as refinery and pipeline shut downs continue to challenge fuel supply situations across the Eastern United States. Read more

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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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