oil

U.S. crude oil production

“Brent Blend” sounds like something Loretta Lynn’s forebears might have distilled in West Virginia.

Net income of oil and gas companies

Average change in the price of selected raw materials

Oil prices fell hard on Friday, but longer term, a key oil forecasting agency sees structural issues that are boosting diesel prices.

In general, land-based oil spills are more time-intensive to clean up, but oil spreads out more rapidly in water.

Relatively abundant for most of the pandemic, flatbed capacity has become scarcer than ever thanks to the surging price of crude and a white-hot construction sector.

EIA forecasts global crude oil demand will exceed global supply through the end of the year.

The first big Rockies snowstorm this season could delay truckers as well as operations at intermodal hubs and oil facilities (video forecast included).

Hurricane Ida made landfall near Port Fourchon, Louisiana, as a Category 4 hurricane on Aug. 29

Stephen Jones of Argus Media is one of the company’s leading analysts. He shares the Argus view of the market at the FreightWaves Fuel Buyers Summit.

Learn more about refineries

In 2020, five countries accounted for about 50% of the world’s total crude oil production

1974: Administration opposes HR-8193, but House sub-committee gives it an OK. Mountainous Bolivia asks 50% for its ships; others get 100% share of their own trade.

“We are focused on helping early stage companies scale up and be successful on that journey by having access to our facilities, our technical experts and our global business network.”

Worldwide Oilfield Machine’s co-founder unveils her strategy for a healthy company, no matter if the times are good or bad.

Experts weigh in on how the pandemic has affected trucking companies that work the Texas oil patch.

Mexico’s new fuel import regulations are seen by critics as an attempt to boost state oil firm Pemex.

FTS International lists $517.2 million in assets and $535.3 million in debts.

Following Monday’s U.S. oil market meltdown, Trucking Freight Futures continued to move lower as the spot National contract fell 0.43% and settled at $1.388 per mile.

The Office of Foreign Assets Control added Russian oil company overseas affiliate TNK Trading International in Switzerland to the Specially Designated Nationals and Blocked Persons List.

LNG growth expected to double by 2040; shipment volumes in U.S. plunge y-o-y; grocers take control of shelf space.

Key forecast sees the coronavirus as having a big impact on demand in the first quarter.

Diesel prices, like all commodities, are priced based in real-time based on the balance of supply and demand. Before we dive into how diesel prices are generated, we should discuss the two most important factors in what prices consumers will see at the pump: retail and wholesale.

Ben Thrower writes about recent changes in Mexico’s oil policies and how they may harm the country.

The Office of Foreign Assets Control places subsidiary to Cuban state-run oil shipper, Corporacion Panamericana, on blacklist for circumventing sanctions against Venezuela’s oil sector.

ESG investors are shunning shipping stocks, but dividends should bolster total returns.

Canadian federal judge suspends the province’s law allowing it to restrict the flow of oil and gas products to other provinces until a full court can review challenge by British Columbia.

FIATA warns that higher air, ocean and trucking fuels costs will be passed directly on to customers.

As the world’s top producer of oil, the United States is more than capable of withstanding the global effects of the Saudi Arabian refinery attack.

OFAC has added two Taiwan entities and another in Hong Kong, as well as their managers, to its list of sanctions for illicit ship-to-ship transfers of fuel to North Korea.

The Port Report focuses on another vessel being seized in the Strait of Hormuz.

Long before sunrise, Molly Sizer starts her day in West Texas as a professional frac sand hauler.  She gets dressed, drives her Peterbilt truck to one of the dozens of […]

On this historic headhaul edition of WTT?!?, Emily Szink joins Dooner as they cover breaking news on the oil tanker seized by Iran, protests in Mexico, what’s up with capacity […]

Three reports issued this past week all with the same conclusion: there will be a lot of excess oil in the world next year.

At least 250,000 barrels a day of crude immediately affected by Tropical Storm Barry

Beemac Logistics, a Beaver, Pennsylvania-based transportation and logistics provider, has opened a new office in Houston to better serve clients in the region, said chief commercial officer Michael Ceravolo. Beemac […]

Magnitude 6.4 earthquake rocks parts of Japan

Your snapshot of what the markets are doing this week.

Your snapshot of what the markets are doing this week.

Recent flooding partially to blame for oil price declines.

U.S. President Donald Trump is pushing ahead on the successor of NAFTA following the end of tariffs on Canadian and Mexican metals.

Your weekly fuel report has arrived.

Your weekly snapshot of how the markets are doing.

Amazon bowing out of China; U.S. doubles oil exports in 2018; electric scooters bite into dockless bike sharing market.

It’s time for your weekly fuel report. More information available exclusively for SONAR users.

A snapshot of what the markets are doing this week.

Your weekly fuel report has arrived. More information available exclusively for SONAR users.

Contracts on the S&P 500 Index fluctuated before nudging upward, with those on the Nasdaq and Dow Jones gauges following in line.

Want more? SONAR users get exclusive access to the detailed breakdown and insights.

Targa Resources Corp. (NYSE: TRGP) missed Wall Street’s fourth quarter consensus revenue expectations of $2.74 billion. The company’s revenue decreased nearly 3.9 percent year-over-year (Y/Y) from over $2.7 billion to nearly $2.6 billion.

Targa Resources Corp. (NYSE: TRGP) has agreed to sell a 45 percent stake of Targa Badlands LLC (Badlands), the entity which holds all of Targa’s assets in North Dakota, to investment funds owned by GSO Capital Partners and Blackstone Tactical Opportunities.

It’s that time of year; time to look forward and plan for the year. In order to have a better idea of where the economy and industry are headed, we always like to look back and review from where we came and what happened.

China introduces new e-commerce law; Brexit leading to shortage of labor in the manufacturing industry; oil prices decline on supply glut; Ninebot introduces a more sturdy e-scooter model.

On today’s episode, Chad Prevost and Oil Market Expert, John Kingston, discuss what’s going on with diesel and oil right now.

On today’s episode, Craig Fuller, Nick Austin, Zach Strickland, and John Kingston discuss the weather system impacting the southeast as well as the latest news in oil production.

Saudi Arabia and Russia agree on further production cuts to prop up crude prices; Qatar leaves OPEC to focus on nat gas; heavy sweet crudes are trading at a premium in anticipation of IMO 2020.

The benchmark price of domestic crude oil has dropped by 25% since early October. Historically, that would be a great thing for truckers, but with carriers operating more efficient trucks and oil production tied into the freight economy more than ever, it could be a warning sign for the broader freight market.

EPA is looking to update pollution regulations for commercial trucks after 20 years; oil prices fall to one-year lows; U.S. import levels have declined slightly across all major retail container ports.

The pipelines taking oil away from the Permian are at capacity, causing a buildup of WTI inventory at the Cushing, OK storage sites and depressing the price of WTI against Brent. Prices would be even lower if Venezuela and Iran weren’t causing further worries about global supply.

FreightWaves adds energy market related data to SONAR.

SONAR’s signature index has a birthday; Ocean Network Express to lose $600M; oilfield service companies guide for tight margins in Q3; President Trump bails on coal industry incentives; pros and cons of blockchain in container shipping; spending 60,000 hours reverse-engineering a Tesla Model 3.

Oil anxieties across the Middle East are ratcheting up. Waymo racks up 10 million test miles ahead of launching its robotaxi business. The US threatens to act over China’s online cost advantage on postal fees.

Hurricane Michael has forced some trucking operations to shut down, but relief efforts haven’t had major interruptions.

Hurricane Michael has already knocked out power to hundreds of thousands of people in the South with to come.

Saudi Arabia and Russia are looking to contain crude oil prices by increasing production by nearly half a million barrels per day; China’s U.S. oil exports have dried up completely; Amazon warehouse workers lose their bonus over the company’s minimum pay rise pledge.

The United States – Mexico – Canada Agreement (USMCA) protects multinational oil and gas companies’ investments in Mexico from incoming President López Obrador.

We break 2018’s crude oil production down by state and month.

Iran’s truckers are on strike in 100 cities for the second time this year, causing fuel shortages. Meanwhile, the Iranian rial is rapidly losing its value, and the country’s biggest crude oil customers are cutting it off.

$200B of tariffs imposed on Chinese imports today; the 4PL era is here; China cancels further trade talks; Germany’s maritime fleet shrinks by 1/3; air cargo not yet feeling tariff pain; oil rallies.

We see falling demand for oil, lumber, and wheat out of Canada in the future due to a combination of market forces. Canadian Pacific Railroad appears to be especially exposed to this freight recession.

A significant increase in the use of scrubbers would have an impact on the amount of middle distillates that the shipping sector needs to consume under IMO2020 rules.

The U.S. has now risen to the top of the oil production list by extracting 10.9 million barrels per day (bpd) in August, but it needs to urgently address the pipeline bottlenecks across the Permian Basin to hold on to its numero uno status.

Hurricane season brings an increased risk to transportation energy in the United States, both from a supply and price perspective. FreightWaves spoke with Brett Wetzel, senior manager of applied knowledge for Breakthrough to understand the broader impact of Hurricane Florence.

FreightWaves is adding a team of analysts to map out the major sectors that drive demand in the freight economy

Uber Freight is gobbling up $500M per year; the US and China hit each other with a new round of tariffs; Georgia Ports extends its inland intermodal network; Saudi Arabia’s Aramco IPO indefinitely delayed; cannabis supply chains mature; Houston is now an oil exporter.

Starting this week U.S. sanctions against Tehran on sectors like automotive and aircraft are set to return following Trump’s decision in May to pull out of the nuclear agreement with Iran.

The summer slump continues; Steve Eisman explains why he’s shorting Tesla; Walmart discovers that last mile delivery is hard; once-exported U.S. cherries find domestic customers; oil trade routes are threatened by geopolitical risk.

Oil production faces volatile times, as multiple OPEC countries witness geopolitical problems and unstable governments, leading to the possibility of yet another rise in fuel prices.

Autonomous vehicle execs want you to know self-driving cars are very, very safe; China’s economic growth slows; Elon Musk talks about Tesla’s push to 5,000 Model 3s weekly; American oil bound for China needs to find new markets; DHL orders 14 Boeing 777s.

Oil prices fell by 6% yesterday after Libya’s National Oil Corporation announced the reopening of oil ports and recommencing the production of 700,000 barrels per day.

Sanctions and the Iranian rial’s collapse could remove supply from global oil markets, spiking prices and spurring more production in the United States.

Donald Broughton says that the oil boom and Trump tax cuts are driving a young industrial expansion cycle; shippers continue to adjust supply chains to minimize transport costs; Google invests $550M in Chinese e-commerce site JD.com; China may put a tariff on US oil imports; Brazil’s trucker strike shattered economic growth outlooks; Asia-North America container rates are softening.

As of late yesterday the Canadian dollar volatility began trending poorly throughout the night and into today, and the short-lived support fell.

Mexico, Canada, and the EU announce retaliatory tariffs; Dow Transports still above 200 day average; the US asks OPEC for a production hike; DHL remains largest air freight forwarder; containership loses 86 boxes in storm off Australia; how China beats US steel tariffs.

Oil, which helped drive a rally for stocks Wednesday, began pulling back ahead of U.S. supply data.

In the wake of the House Appropriations Committee allocating just $250 million for port projects, the AAPA is demanding additional funding from the government, to keep up with the spike in growth of multimodal freight.

Oil prices could go over $90 a barrel by 2020 due to IMO regulations that put a cap on the sulfur emissions in the shipping industry.

Volatility returns to commodity markets, with oil, aluminum, and nickel posting huge price increases. How long will these price shocks last, and how will they affect the economy?

Daseke has purchased Aveda Transportation and Energy Services, one of North America’s largest oil rig movers. This acquisition increases Daseke’s exposure to the oil and gas industries, which have a bullish outlook for 2018 and beyond.

KeepTruckin announced yesterday it secured $50 million in Series C financing—bringing the company’s total funding to $78 million.

The U.S. Energy Information Agency has released its Annual Energy Outlook for 2018, with projections to 2050. The EIA calls for massive growth in oil and LNG production and exports over the next few decades, which will be a boon for the trucking industry.

The American oil boom has already electrified the wider economy and increased demand for truckload miles; could it also stabilize fuel prices long term?

American oil production and the number of rigs should reach record highs in 2018. This is good news for trucking: both demand for truckload miles and overall economic growth will increase.