Cushing Oil Tanks Drain Near Empty as Diesel Feedstock Tightens
Storage tanks in Oklahoma are being drawn down so fast that producers can't refill them, signaling tight crude supply that could push diesel prices higher.
#Crude Oil
11 posts tagged with this topic.
Oil Falls Back to $80: Brent Down 3.2%, U.S. Crude at $78.72
Brent crude dropped 3.2% to $80.50 per barrel June 16, while U.S. benchmark crude fell $2.03 to $78.72. The slide continues a two-week retreat from the $98…
Brent Crude Climbs to $92.43 as Hormuz Doubts Keep Pressure On
International benchmark gains 1.1% on June 10. U.S. crude inches up 0.1% to $88.31. Strait reopening timeline still unclear.
Truck Tire Prices Set to Jump as Rubber, Oil, Energy Costs Spike
Natural rubber nearing a 10-year high, crude oil doubled since December, and LNG export capacity down 17% in Qatar. Fleets face a three-front pricing squeeze.
OPEC+ Quota Hike Means Nothing While Hormuz Stays Shut
Cartel agrees to symbolic production increase for July, but Iran war keeps Middle East barrels landlocked and diesel climbing.
U.S. Exports Jump 4% in April, Shrinking Trade Deficit to $82.4B
Record crude and fuel shipments drove the export surge. Imports rose modestly as firms stockpile inventory against tariff and geopolitical risk.
U.S. Crude Inventories Drop 17.8 Million Barrels, Diesel Next
Largest single-week crude draw on record tightens supply ahead of summer freight season, with diesel and fuel costs likely to follow.
Brent Crude Hits $103.60, Hormuz Disruptions Push Oil Higher
International benchmark rose 1% Friday as Strait of Hormuz disruptions tighten supply. U.S. crude up 0.4% to $96.68.
Hormuz Shut Since May 5, No Tankers Through, Diesel Still Climbing
Iran halted all transits through the Strait of Hormuz three days ago and imposed new shipowner reporting rules. Crude and diesel prices remain elevated despite…
Diesel Surges Past $4.48, Strait of Hormuz Closure Hits Fuel Costs
National diesel average climbs $1.32 year-over-year as crude tops $100/barrel and Middle East shipping lane remains shut.
Renewable Diesel and RNG Gain Ground as Crude Tops $110
With Brent at $110 and diesel costs climbing, renewable diesel, high-blend biodiesel, and renewable natural gas are drawing more small-fleet interest for cost…