After some mixed news last week about oil and gasoline inventories, prices has slowly risen. While we should all be happy prices are still WELL below their year-ago levels, I will let you know that we should see a price hike Monday or Tuesday to between $2.09-$2.15. While I personally believe crude prices should keep [...]
Archive for the Tag 'inventories'
Just to warn you, this post will be a bit lengthy, but may be incredibly insightful for some. First off, it looks like Ed has predicted a hike to $1.99. We’ll see if he’s right on… if you can get gas for around $1.80, fill up like I did tonight just in case. I’m not [...]
After the expected Speedway hike to $1.99 Tuesday, we can expect a break in gas price hikes as the DOE released a favorable report on weekly oil inventories today. The report on oil and gasoline stockpiles contained some very good (bearish) news for the markets. It was expected that oil inventories were to gain 800,000 [...]
I don’t like to be bearer of bad news, but I believe we are approaching the lowest gasoline prices we’ll see for a while. While gasoline prices usually "bottom out" in late November and early December, I believe with the dramatic fall in prices and negative profit outlooks for refining gasoline, it will result in [...]
WRITTEN THIS MORNING (OCT 24, 7AM) This morning OPEC convened and arrived at a decision to cut 1.5 million barrels of oil per day. Many of you are likely asking what we can now expect and what will happen. Let me try to shed some light for you. It will be an interesting day on [...]
As of late, oil and gasoline have been virtually tied to the Dow as we look to economic woes as reasons to sell-off gasoline and oil contracts. With the Dow finally putting together a noteworthy rally, gasoline and oil both surged. With a gain in wholesale prices along with much tighter Midwest supplies, we can [...]