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Gasoline Prices Sink as Bear Market Firms Grip

By Brian Milne, Energy Editor for Schneider Electric Gasoline futures traded on the New York Mercantile Exchange are down nearly 30% from their June high to Oct. 10, and possibly more stunning have erased 19.3% of their value in 11 days from the late September high while the U.S. retail average for gasoline is down

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Rethinking Oil Demand Expectations

By Brian Milne, Energy Editor at Schneider Electric The outlook for global oil demand suddenly got gloomy, with the futures markets for crude, gasoline and diesel selling off hard in ushering in the fourth quarter, as market participants raced to the exits, unloading long positions. A tenth of a penny increase in the U.S. retail

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Gasoline’s Whipsaw Trade in Oversold Market

By Brian Milne, Energy Editor, Schneider Electric The gasoline futures contract nearest to physical delivery traded in a more than 25cts gallon range in September with little less than two days of trade for the month remaining, which included sharp daily reversals in what is known as whipsaw price action late in the month ahead

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Road to Lower U.S. Gasoline Prices To Take Brief Detour

By Brian Milne, Energy Editor for Schneider Electric. The U.S. gasoline futures contract dropped to a fresh low for 2014 mid-September that coincided with the shift away from summer specification gasoline to easier to manufacture fuel while the national average price for retail gasoline sunk to a seven-month low. The national average is down 5.1cts

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Dropping Like a Rock—Beware of Falling Gasoline Prices

By Brian Milne, Energy Editor for Schneider Electric Just under $2.50 gallon is where the U.S. gasoline futures market found support during the second week of September amid a massive selloff in domestic and global crude oil prices, with lower trending oil battered by bearish readings for forward oil demand by the three major forecasters.

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Holiday Boosts Downstream Gasoline Deliveries

By Brian Milne, Energy Editor for Schneider Electric The U.S. average price for regular grade gasoline sold at retail outlets across the country edged up 0.5cts to $3.459 gallon on Labor Day according to the Energy Information Administration’s weekly survey, with the increase the first in 10 weeks. The slightly higher retail average came alongside

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“Take Two” for U.S. Gasoline Demand

By Brian Milne, Energy Editor for Schneider Electric. A month in front of the Labor Day holiday in the U.S., the unofficial end of the peak summer driving season, gasoline demand spiked from what has been lackluster consumption this summer, with preliminary data showing a surge in demand to the highest weekly rate so far

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U.S. Gasoline Demand Disappoints this Summer

By Brian Milne, energy editor for Schneider Electric. What looked like a recovery for U.S. gasoline demand during the second quarter fizzled this summer, with demand continuing to slip below the year-ago pace and the five-year average since mid-June with the exception of one week. In the United States, driving demand is highest during the

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Early Season Pop in US Gasoline Demand Fades

By Brian Milne, energy editor for Schneider Electric. In the futures market for U.S. oil products, the gasoline contract has taken a backseat to Ultra-low Sulfur Diesel futures, with the ULSD contract used in hedging winter fuels, among other benchmarking uses. The transition away from interest in gasoline during its peak consumption season comes as

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Speculators Unload Long Positions in Gasoline Contract

By Brian Milne, Energy Editor for Schneider Electric. Speculators holding positions in the U.S. gasoline contract unwound 30% of their bets that gasoline prices in the United States would increase, with the gasoline contract dropping to a 3-1/2 month low mid-July as the market looks to higher refinery runs offsetting peak seasonal demand. Nearest delivered

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Sliding Demand Expectations Clobber Global Oil Prices

By Brian Milne, Energy Editor for Schneider Electric. The week following the July 4 weekend was brutal for those bullish oil, with crude, diesel and gasoline prices receiving a drubbing on bearish fundamental factors and downward revisions to global oil demand, with the international Brent crude price marker dropping to a three-month low, while US

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Global Oil Prices Pressured as Geopolitical Concerns Ease

By Brian Milne, energy editor for Schneider Electric. Global oil prices are down $5 bbl from early June as the market retraces a spike in value to a nine-month high triggered by concern over supply disruptions in Iraq by a Sunni militant group, with the market erasing the geopolitical premium caused by the threat. The

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Parsing Data, Events to Understand Trend in U.S. Gasoline Demand

By Brian Milne, Energy Editor for Schneider Electric. The gasoline futures market on the New York Mercantile Exchange dropped back a nickel from a fresh 11-month high of $3.1520 gallon reached June 23, but remain over $3 gallon while the U.S. retail price average at $3.704 gallon will continue to advance into July as pass

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U.S. Consumers Better Positioned Against Global Oil Prices

By Brian Milne, Energy Editor for Schneider Electric. The U.S. gasoline futures market paused June 20 from an upside price onslaught amid profit taking in the ICE Brent crude futures contract, with the consolidation coinciding with a slowdown in the advance of Sunni militants in Iraq. The campaign by the Islamic State of Iraq in

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Gasoline Prices to Rise as Promise in Iraq Upended

Supply chain dynamics impacting retail fuel prices. By Brian Milne, Energy Editor for Schneider Electric. Rising U.S. oil production, with weekly rates reaching a 28-year high in early June has reduced price volatility for crude and oil products such as gasoline and diesel, and held prices down. The growing production countered global supply disruptions, namely

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Retail Gasoline Prices Set To Decline On Softening Wholesale Costs

Prices to dip for first time since February. By Brian Milne, Energy Editor for Schneider Electric The national average price for all formulations of regular grade gasoline sold at retail outlets across the U.S. is set to decline for the first time since the start of February, pressured by lower wholesale costs as refineries near

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Driving Demand Picks Up as Weather Warms

Higher demand coupled with the refinery maintenance season have prompted a string of weekly drawdowns in gasoline supply. By Brian Milne, Energy Editor for Schneider Electric Gasoline supplied to the primary wholesale market in the U.S. poked above the five-year average for the fourth week in 2014, climbing to 8.996 million bpd during the week-ended

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More Upside for Gasoline Prices, But Top Nearing

By Brian L. Milne, Energy Editor, Schneider Electric The national average price for regular grade gasoline increased for eight weeks straight through Mar. 31 according to the Energy Information Administration, reaching a nearly seven-month high at $3.579 gallon, and there’s more upside to go. With limited exception, wholesale gasoline costs in major metropolitan markets across

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Gasoline Supply Slides while Demand Climbs

By Brian Milne, Energy Editor for Schneider Electric Implied gasoline demand, which refers to gasoline supplied to the primary wholesale market, topped the five-year average during the third week of March for just the third time this year, with apparent demand at 9.0 million bpd for the first time in 2014 reports the Energy Information

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Retail Gasoline Prices Reach Six-Month Highs

By Brian Milne, Energy Editor for Schneider Electric Wholesale gasoline postings moved higher in most major metropolitan markets across the country during the week ended Mar. 24, underpinned by higher crude acquisition costs, seasonal refinery maintenance, and the transition to lower Reid vapor pressure ratings for gasoline as the industry swaps out winter blends with

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Upside for Wholesale Gasoline Costs Slows in Early March

By Brian L. Milne, Energy Editor, Schneider Electric The upside push in wholesale gasoline costs slowed in early March, with supplier offers at the terminal known as rack postings shallowly mixed at major metropolitan markets across the U.S. The mixed offers follow an increase by the U.S. retail gasoline price average to a $3.479 gallon

Bear Aggression Triggers Bull Reaction in Oil Prices

Brian L. Milne, Energy Editor, Schneider Electric The weekend invasion of Ukraine by Russia has spiked global crude oil prices, hiking the geopolitical risk premium in crude values while the Obama administration has asked European countries to cut their oil and gas contracts with Russia, and to instead source crude from Africa, the Middle East

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Retail Gasoline Prices on Upward Trajectory

By Brian Milne, Energy Editor for Schneider Electric. U.S. retail gasoline prices are moving higher, with the ascent in position to continue into March even though gasoline demand so far in 2014 trails the year-ago period by 144,000 bpd or 1.7% per federal government data, with driving snarled several times in the heavily populated Midwest

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Lower Annual Trend for U.S. Gasoline Prices Reaffirmed

By Brian Milne, Energy Editor for Schneider Electric. The Energy Information Administration tweaked its latest forecast for retail gasoline prices in the U.S., adjusting lower its projection for the 2014 national average on expectations U.S. refiners would encounter reduced acquisition costs for crude oil this year. In its latest Short-term Energy Outlook, released Feb. 11,

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Futures Market Positions Retail Gasoline for Price Advance

By Brian Milne, Energy Editor for Schneider Electric The Energy Information Administration reported a modest 0.3cts dip in its national average for regular grade gasoline for the week-ended Feb. 3 to a $3.292 gallon seven-week low while four days later the gasoline futures contract rallied to a five-week high and US crude prices topped $100

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