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0 comments Wednesday 14 Mar 2007 | Posted By Patrick | Predictions

Finally after the last prediction, Speedway hiked their prices back to 2.59.I can’t say after reading the DOE report that things look good; they don’t at all. Again, refiners only utilized around 85% of their capacity, leading to another fall in gasoline stockpiles. They dropped roughly 2.5 million barrels, as distillate/diesel stockpiles suffered a bit [...]

0 comments Wednesday 07 Mar 2007 | Posted By Patrick | Predictions

Well, I sure was wrong about a price hike! However, as everyone has noticed, prices have not gone any lower than around 2.38. I’m surprised that they are still this low while wholesale prices remain high at around 1.87. Last year, when there was no “RBOB” (ethanol) contract, and the wholesale price was 1.71, we [...]

0 comments Wednesday 28 Feb 2007 | Posted By Patrick | Commentary

The DOE report again was a let down. Refineries are still operating with utilization that is too low (86%). Gasoline production is increasing slightly, but not enough. Oil stockpiles climbed 1.4 million barrels. Gasoline fell 1.9 million barrels, and distillates fell 3.8 million barrels. Midwest PADD is doing good at 55.5 million barrels (which tells [...]

0 comments Thursday 18 Jan 2007 | Posted By Patrick | Predictions

Woaaaa!! Where do I start? How ’bout the DOE report. Refineries operated at just 87.9% of capacity last week. The week before they were at over 91%! Whats changed? Profit. It most likely has been dropping like a rock. With lower profit, refiners aren’t encouraged to pump out products, so this doesn’t surprise me. With [...]

0 comments Wednesday 04 Oct 2006 | Posted By Patrick | Commentary

Another good DOE report. Crude gained, gasoline gained, and distillates gained. Venezula and Nigeria cut their own oil output as a result of “low prices” (rediculous), but that news actually helped push oil prices lower because it was such a small cut (170,000 barrels together). I’m willing to bet while those countries cut their production, [...]

0 comments Wednesday 13 Apr 2005 | Posted By Patrick | Predictions

Well, we’re starting to see the economies in growing countries start to slow down, (specifically China) and for the first time in months, the IEA has LOWERED its forecast of crude oil consumption by 50,000 barrels a day. While that might not seem like much (since the world uses 84 million barrels a day) its [...]