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OPEC+ Meeting Postponed as Members Negotiate Quotas

OPEC meeting delayed until November 30th African producers unhappy with proposed lower production levels ULSD futures moving lower with trendline January 2024 natural gas futures under $3.00 The Matrix Brent crude oil prices topped out on September 28th at $97.69....

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Supply Outlook Differs for Distillate Fuels and Gasoline

Distillate fuel oil supplies very tight Crude oil prices pullback Natural gas situation becoming more bearish Happy Thanksgiving from the Powerhouse Team The Matrix Crude oil prices reversed sharply higher on Friday, following a $72.37 Thursday low. The recovery was...

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Propane and Natural Gas Storage Healthy as Winter Approaches

EIA delays the release of inventory and storage data until next week U.S. propane inventories above the 5-year range Drought slowing ships transporting energy through the Panama Canal Global natural gas inventories full ahead of winter The Matrix A warm winter last...

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Product Inventories – Back to the Future

Gasoline futures curves are shifting Low distillate stocks supporting ULSD crack spreads Gasoline inventories above the 5-year average Natural gas storage injection below expectations again this week The Matrix In 2008, China hosted the Summer Olympics in Beijing. In...

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Distillate Fuel Oil Stocks in Shaky Condition

Distillate fuel supply remains very tight Developing heating season could keep situation tight Impact of El Nino less clear than earlier thought Natural gas prices now facing weakness The Matrix There are fewer than thirty days of distillate fuel oil available in the...

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Crude Oil Reacts to Middle East Turmoil

Oil industry better positioned to withstand attack on Israel Oil prices now set at open-outcry NYMEX Exchange Alternative oil supplies available, with provisos El Nino points to snowy, warmer winter. The Matrix The attack on Israel this weekend by Hamas was redolent...

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Tight Supply Supports Prices of Petroleum

Higher oil prices despite economic uncertainty Tight supply evident at Cushing OK pricing point Demand for propane fell noticeably Natural gas prices struggle to break above $3.00. The Matrix New highs were seen in WTI futures last week. Prices soared to $95.03 and...

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WTI Crude Oil Tops $90

Crude oil rally now extended, may set back Technical measurements are turning lower 50% price retracement is $79.85  The highest natural gas close since August 10th did not break resistance. The Matrix WTI crude oil topped $90 dollars per barrel for the week...

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