By Brian L. Milne, Energy Editor, Schneider Electric A trio of unexpected gasoline producing unit outages in Illinois, Wyoming, and Kansas, atop of already low supply in the Midwest spiked regional gasoline prices to start out the second half of May, and in front of Memorial Day in what is known as the kickoff to [...]
By Brian L. Milne, Energy Editor, Schneider Electric A 1.8-cent gain in the Energy Information Administration’s (EIA) U.S. retail price average for regular grade gasoline for the week-ended May 6 halted a string of weekly increases in the average that dated back to late February, while lifting the average off a 14-week low. At $3.538 [...]
By Brian L. Milne, Energy Editor, Schneider Electric The gasoline futures contract that trades on the New York Mercantile Exchange rallied to a nearly one-month high early in the May 6 session, bolstered by the Labor Department’s May 3rd nonfarm payroll report showing greater jobs growth than expected for April and a decline in the [...]
By Brian L. Milne, Energy Editor, Schneider Electric Climbing wholesale gasoline costs through the week ended April 29 are set to end a downtrend in the US gasoline average reported weekly by the Energy Information Administration (EIA) , which has declined for eight consecutive weeks since posting a 2013 high in late February. Wholesale costs [...]
Brian L. Milne, Energy Editor, Schneider Electric For six straight weeks, the Energy Information Administration’s (EIA) retail gasoline price average has declined, down 17.6 cents or 4.7% from Feb. 25 when it reached $3.784 gallon, which is currently the high for 2013. Considering sharp selling activity during the second week of April, the February high [...]
First quarter fuel demand jumps 1.4% in the first quarter, according to the Energy Information Administration. By Brian L. Milne, Energy Editor, Schneider Electric Preliminary data from the Energy Information Administration (EIA) shows gasoline demand in the U.S. ending the first quarter 1.4% higher than during the same three months in 2012, although down 1.2% [...]
By Brian L. Milne, Energy Editor, Schneider Electric For the first time since the middle of December, the U.S. average price for regular grade gasoline moved lower according to the Energy Information Administration’s (EIA) weekly survey, pressured by worries over economic growth and the effect on fuel demand, along with lower asking prices by suppliers [...]
Brian L. Milne, Energy Editor, Schneider Electric As February nears an end, retail gasoline prices are already at highs one would expect when the weather warms, not when some parts of the country are still digging out of snow drifts. A recent double-digit jump in the retail average reported by the Energy Information Administration means [...]
By: Brian L. Milne, Energy Editor, Schneider Electric. The Energy Information Administration’s (EIA) U.S. average price for all formulations of regular grade gasoline sold at retail outlets jumped another 7.3 cents through the week-ended Feb. 11, which was the eighth consecutive weekly increase in the national gasoline average. Since Dec. 17, when the U.S. average [...]
By Brian L. Milne, Energy Editor, Schneider Electric In futures trading, the nearest delivered New York Mercantile Exchange RBOB (reformulated blendstock for oxygenate blending) contract surged 17.82 cents or 6.2% from Jan. 25 to Feb. 1, with supplier postings at terminals serving major metropolitan markets up sharply, reflecting some of that increase from paper trading. [...]
By Brian L. Milne, Energy Editor, Schneider Electric The American Petroleum Institute (API), the Washington, DC-based trade organization for the oil and gas industry, on Jan. 18 said at 8.7 million bpd U.S. gasoline deliveries in 2012 fell to their lowest level in 11 years, while down 0.4% compared with 2011. During 2012, gasoline demand [...]
Brian L. Milne, Energy Editor, Schneider Electric December finished with a sixth consecutive weekly increase in domestic gasoline stocks, rebuilding from a four-year low plumbed in October amid a host of unexpected refinery outages in 2012 heading into the fourth quarter, and exacerbated by the destruction and resultant infrastructure disruptions in the Northeast and Mid-Atlantic [...]
By Brian L. Milne, Energy Editor, Schneider Electric U.S. retail gasoline prices fell to an 11-month low in early December as building inventories and weak demand again pressured wholesale costs, with the Energy Information Administration’s (EIA) weekly retail average for regular grade gasoline down in eight of the last nine weeks to $3.349 gallon. View [...]
By Brian L. Milne, Energy Editor, Schneider Electric Wholesale gasoline costs moved lower coming into the second week of December, reflecting sliding values in spot and futures trading that will also prompt another decline in retail prices, which the Energy Information Administration (EIA) last said averaged nationally at a $3.394 gallon five-month low. The U.S. [...]
Israel and Palestinians in the Gaza Strip may not be oil producers, but the conflict between the two groups has elevated the geopolitical risk premium for the oil-rich Middle East region over concerns of supply disruptions should hostilities spill out to other countries. Israel launched air strikes against Hamas targets in Gaza in mid-November following [...]