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January 2007 - Posts
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If you’ve read this blog before, you will recognize that yours truly is fond of horse racing metaphors. The oil market ran like Mr. Ed on Monday, crumbling under the pressure of weekend Saudi comments that indicated the Kingdom was quite happy with Read More...
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Don’t get too excited by that headline. Average retail gasoline prices increased by exactly 0.08cts gal this morning, and that is not going to inspire a rush to the auto malls to grab discounted Civics and Geos. But today’s increase to $2.1455 Read More...
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The Bush administration’s plan to quintuple usage of renewable fuels by the year 2017 and cut gasoline usage by one fifth is probably an unachievable target, and one that is sure to provoke plenty of fear and loathing among Washington lobbyists. Read More...
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Did we hit bottom for global crude oil and gasoline prices last week? Perhaps, and in a moment, I’ll take a look at what that might mean for oil prices in the next 100 days or so, should MLK week represent the nadir for NYMEX futures prices in at Read More...
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Three U.S. states—-Michigan, Missouri, and Oklahoma—now have average prices for gasoline of less than $2.00 gal and I expect that about a dozen states will be in that camp within the next week. We’ll see Indiana, Ohio, Arkansas, Georgia, Read More...
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The number “2” will be replaced by the number “1” at thousands of U.S. gasoline stations this week, thanks to a wholesale price slide that has clearly deepened. Yesterday’s comments from the Saudi oil minister, noting that Read More...
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This year’s version of the midwinter gasoline sell-off is particularly violent, and on Tuesday morning, OPIS finds 28 states with at least some merchants peddling unleaded regular on the street for less than $2.00 gal. We project that perhaps another Read More...
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PUMP PRICES TARGET LOWEST NUMBERS IN THIRTEEN MONTHS We now almost certainly will see U.S. nationwide gasoline prices sink below what has stood as the low water mark for about thirteen months, and there’s a chance, that many areas will see fuel Read More...
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HISTORY LESSON: HOW LOW WILL OUR WINTER GASOLINE GO? This week will almost certainly see talk about the end of the bull market for crude oil and related products. Crude oil Tuesday morning scraped nineteen month lows, with WTI futures trading for as little Read More...
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SUB-$2.00 GAL GASOLINE FILTERS INTO WINTER LANDSCAPE If you live in South Carolina, Oklahoma, parts of rural Texas, Georgia, Tennessee, and Missouri, you probably can find some retail gasoline prices below $2.00 gal among some of the more aggressive C-store Read More...
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The nationwide retail pump price for gasoline hit $2.325 gal today, the highest price so far in 2007. I will go out on a limb here and predict that today’s number should be the high water mark for most of January. But please don’t get excited Read More...
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The oil markets were semi-closed today, but let me provide further explanation to that qualified statement. The business week now includes nearly 24 hours per day of electronic trading, but the open outcry sessions that take place on the floor of the Read More...
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