Профиль

if using the EIA's monthly data for May, gasoline and distillate demand now look like they're suffering from more than just noise- demand destruction to some degree- could be an ominous sign for June data.

the mistake many americans make is they look at (oil) futures to try to determine today's gas prices. that's not great- you'd want to use a spot price- futures prices may be lower in the future (backwardation) or higher (contango) and could be disconnected from refined prod price

i talk about gas prices/oil at various levels. oil (mostly futures) gasoline (futures, but mostly "spot"- which is the today/tonight price. spot price varies regionally) wholesale (localized "rack" price, the price your local station is paying) retail (the retail price you pay)

market showing Chicago gasoline and diesel basis jumping in line with additional/continued regional refinery issues- wholesale gasoline up 7c/gal, diesel up 11c/gal

Ohio gas prices hiking in some areas- I’m guessing it’s because while Michigan jumped to $4.49 and Ohio somehow only jumped to $3.99 earlier this week, quite low given the refinery issues that have developed. Today’s $4.29 is now on par with what would have been expected.

ALERT: Live data showing that #GasPrices appear to be rising to $4.29/gal in areas of #Ohio today.

gasoline inching slightly lower, but price cycling markets weighing on gas prices, while diesel prices continue to climb. for now, oil prices today slightly lower, along with a drop in refined product prices, which could point to modest/slight relief from rising prices soon

REFINING RECORD: never in the same year has PADD 2 seen 5 weeks of refinery utilization over 100%. utilization reached over 100% a max of three weeks previously in 2018, 2019 and 2023

U.S. refineries ran last week at 97.2% of capacity, the highest level since 2018

oil inventories at the NYMEX delivery point in Cushing, OK have fallen to their lowest since August 2014

yikes, ULSD in the great lakes charging higher on refinery snags plus continued attacks on Russia's refineries- ULSD spot price up 26c/gal, other regions seeing jumps of 17-20c/gal... higher retail diesel prices coming

ALERT: Live data showing that #GasPrices appear to be rising to $3.79/gal in #Kentucky today.

ALERT: Live data showing that #GasPrices appear to be rising to $3.99/gal in #Ohio today.

ALERT: Live data showing that #GasPrices appear to be rising to $4.49/gal in #Michigan today.

ALERT: Live data showing that #GasPrices appear to be rising to $3.79/gal in #Tennessee today.

ALERT: Live data showing that #GasPrices appear to be rising to $3.69/gal in #Indiana today.

EIA, week ending 7/24 Crude oil: -7.2M Domestic prod: 13.796MMbpd Cushing: -0.8M Gasoline: +0.0M Mogas supplied: 9.041MMbpd Distillates: +1.1M Refiner utilz: 97.2% Ref inputs: 17.518MMbpd Total exports: 11.530MMbpd #oil #eia #gas

Seeing some (temporary) decreases in price cycling states- beware in Michigan with prices down 12c in the last week and refinery snags, a hike could be looming soon. West Coast as always leads with top prices, while Indiana and gas tax suspension leads with lowest prices.

⚠️Motiva's Port Arthur refinery, the largest in the U.S. by capacity, is repairing a gasoline producing unit, the 81,000bpd FCCU. Quantum indicates Motiva is sourcing feedstocks to keep its alky unit going to keep gasoline output from falling.

Ukraine hit 2 Russian oil refineries again overnight, the Ryazan refinery, capacity 340kbpd, and Perm refinery, capacity 260kbpd for a knockout of 600,000bpd of capacity- that's huge. in addition, refinery snags are adding up beyond Russia- driving the disconnect btw oil/products