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New NAFTA

By: Greg Gill / Posted on: August 28, 2018

Yesterday, the United States and Mexico settled on new concessions that will make changes to the current North American Free Trade Agreement (NAFTA).    The hope is to improve upon the U.S. $69-billion trade deficit with Mexico. 

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Why U.S. Crude Oil Exporters are Not Happy Today

By: Mike Dombroski / Posted on: June 25, 2018

On Saturday OPEC and non-OPEC producers agreed to raise production by 1 million barrels per day (bpd). Perhaps more important than that, they agreed to return to 100% compliance of the previously agreed upon production cuts of 1.8 million bpd. Production was lagging from struggling countries, i.e., Venezuela, Angola and Libya which effectively equated to a production cut of 2.8 million bpd. Most notably, Reuters reports that Venezuela has been pumping more than 500,000 bpd less than its target. So, let’s clear up the math. OPEC and its non-OPEC partners are effectively saying they are going to be ramping up production by 2 million bpd, 1 million to make up for lost compliance and 1 million in additional capacity. How are the markets reacting? The Brent-WTI spread is getting slammed. 

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How Does the Tariff Talk Affect the Oil Industry?

By: Mike Dombroski / Posted on: June 19, 2018

Oil prices are lower this morning sparked by increasing trade war fears between China and the U.S. after President Trump sought to impose another $200 billion worth of tariffs yesterday.

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Retracement?

By: Greg Gill / Posted on: May 29, 2018

On May 22nd WTI Crude nearly reached $73 / barrel and since then prices have dipped almost 10%. 

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Trade Truce

By: Matt Reese / Posted on: May 23, 2018

The world’s two largest economies have decided to scale back the threats of a trade war by agreeing not to impose new tariffs. Chinese officials met with members of the Trump administration in Washington this weekend with plans for China to increase its purchases of American produced goods in order to reduce the multi-billion dollar trade imbalance between the two superpowers.  The trade imbalance reached $375 billion in 2017. 

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Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.

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