Refiners say concessions offered by the U.S. Environmental Protection Agency in an order issued today to reduce smog-producing sulfur in gasoline aren’t enough and the rule will still result in higher prices for consumers.
We start the New Year with the U.S. better supplied with oil than at any time in history. Now the market will focus on the demand side as we start the slow road back to normal markets after the extended holiday trade.
Iran deal fails as France has second thoughts about giving Iran too much and getting nothing back in return. At the same time oil products, such as gasoline and ultra-low sulfur diesel, look like they wants to bottom.
The Energy Information Administration weekly supply support seems to suggest that low gas prices are spurring demand! Drivers are saying fill it up again as they felt richer as gas prices fall near $3 a gallon