In any business, the primary goal is to become profitable, then grow that profit over time. The bottom line increases when the company maximizes revenue while minimizing costs. For fuel buyers and sellers, investing in fuel administration software is both a necessary and profitable venture.
China has established itself as an opportunistic buyer and importer of crude amid market downturns over the past six years given both its vast and growing storage and refining capacities.
When it comes to making effective decisions on when to buy or sell on the market, knowledge is everything. Using historical stock prices to predict market trends is an excellent way to understand when to buy and sell. Accessing information about past patterns, and using all available real-time tick data, are keys to trading success.
Last week in this report we discussed the much-needed narrowing of U.S. net imports of crude. We detailed the importance of further declines in net imports in the coming weeks if we were to see the material draws to crude stocks needed to keep the rally in crude prices alive.
The first draw to commercial crude stocks in four weeks and the largest draw to commercial crude stocks this year was reported by the EIA on Wednesday. Despite commercial crude stocks still registering 65 million bbls above year-ago levels, prompt month WTI is now on track to close higher on the week.
The EIA’s weekly U.S. crude production estimate rose 500,000 bpd in this week’s report, registering at 11 million bpd.
If your livelihood depends on buying or selling fuel, then you know how volatile the market can be. And you understand that access to timely information is crucial for your success. Robust rack pricing data is critical to help you stay on top of price changes and maximizing your profit margin.
Lamb Fuels is credited with pioneering the fuel recovery market in the United States and Canada. It operates in 45 U.S. states, as well as the Canadian provinces of British Columbia and Alberta.
Our expert weighs in on why gasoline, diesel, and jet fuel are set to establish their own recovery paths.
Commercial crude stocks rising for the third consecutive week to new record highs in the week ending June 12 continues to highlight an oversupplied crude market suffering from depressed demand.
Comprehensive weather insights help safeguard your operations and drive confident decisions to make everyday mining operations as safe and efficient as possible.