Tom Kloza
Founder and Oil Analyst at Oil Price Information Service (OPIS)
Dean of U.S. oil analysts, foremost expert on North American fuel markets, a founder of Oil Price Information Service
Articles
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2 weeks ago |
tradingview.com | Tom Kloza |Jeff Barber
Nymex Overview: Oil Futures Weaken as Investment Banks Cut Oil Price TargetsOPISPetroleum futures were lower near midday Monday in volatile trading as commodity and equity markets continue to slide on concerns over U.S. tariffs. Crude oil contracts, which rose by $1 or more on a report the Trump administration was considering suspending the tariffs for 90 days, resumed their decline to numbers last seen in 2021, after the White House denied it was considering such a move.
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2 weeks ago |
morningstar.com | Tom Kloza |Michael Kelly
Commodities analysts at Citigroup on Monday said tariff issues could send Brent values even lower than previously expected, with a short-term visit to $60/bbl or less. The investment house now expects global economies to slow sharply, perhaps inspiring a response from U.S. shale or OPEC and its allies. The $60/bbl target for Brent suggests a further drop of $3.50-$4.50/bbl from current numbers.
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3 weeks ago |
tradingview.com | Tom Kloza |Michael Kelly
Goldman Projects Possible Outcomes as Trump Tariffs LoomOPISIn a Tuesday afternoon report to clients, commodities analysts at Goldman Sachs addressed how various tariff scenarios might play out for U.S. oil markets. The bank considered the impact of a 10% universal tariff on oil and maintains that heavy crude oil discounts for Canadian barrels might increase but oil would continue to flow since U.S. refiners are uniquely equipped to process the heavy barrels.
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1 month ago |
tradingview.com | Tom Kloza |Jeff Barber
NYMEX Overview: Oil Futures Weaken Weaken on Russia and Ukraine Agreements — OPISCrude oil futures were under pressure at midday after the White House said it reached separate agreements with Ukraine and Russia to ensure safe navigation in the Black Sea and to implement a ban on strikes against energy facilities in the two countries. West Texas Intermediate and Brent contracts backed off morning gains of about 60cts, but selling was limited, in part because of stronger equity markets.
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1 month ago |
tradingview.com | Tom Kloza |Michael Kelly
Walmart Says it Will Have More Than 450 C-Stores by Year's EndWMTBig Box retailer Walmart said Thursday that it plans to have more than 450 Walmart Fuel and convenience stations across 34 U.S. states by the end of this year. The company opened its 400th fueling station in Palm Springs, Calif., in December, so the expansion suggests more than 50 sites are forthcoming in the next nine months.
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If EIA confirms these trends, it's enough to stop some of the bleeding for crude and it may further bulk up gasoline and diesel. Potential for dissonance around Easter, however.
Crude -4.57MM Gasoline: -2.18M Distillate: -1.64MM Cushing: -354K
Over 150 responses to poll as to why oil is so weak. 83% say it's the trade war and the threat to global GDP growth; other 17% split between high OPEC+ spare capacity and light investor positioning. I do believe the investment thesis for oil appreciation has weakened since 2023.
Crucial EIA number for gasoline demand coming soon. April avg. (ex 2020) for last 6 yrss is 9.063m/b/d. When the week precedes Easter ('19, '22) the average is 9.139-mil b/d. April has been pathetic so far at just 8.443-mil b/d. Rogue year of '23 brought demand at 9.511 mil b/d.
