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Producer Prices Surge At Fastest Rate In Almost 6 Years

Following September's hotter-than-expected Core PPI (and 5Y high in PPI), October was expected to see a modest slowdown but headline PPI printed a massive 2.8% YoY (smashing the 2.4% exp). This is the hottest PPI since Jan 2012,  driven by surges in fuel prices and drugs.   Core PPI also beat expectations, rising 2.4% YoY […]

Hurricane Harvey Looters Targeting Fuel Tanks As Google Searches For “How To Siphon Gas” Soar

Texas resident Joe Roan woke up to a rather unpleasant surprise yesterday morning as he discovered the remnants of a would-be thief attempting to steal gasoline from his Jeep Wrangler tank.  Unfortunately, as a local CBS affiliate pointed out last night, with refinery outages resulting in growing gasoline shortages, this is becoming a rather common […]

Gasoline Prices Surge After Colonial Pipeline Shutdown, East Coast Fuel Shortages Loom

Gasoline prices have exploded higher once again this morning – topping the Maginot Line of $2.00 for the first time since July 2015 – following reports that the main conduit for fuel from the Gulf to the East Coast has been shut due to Hurricane Harvey. Motor fuel prices climbed as much as 6.6 percent […]

RBOB Gasoline Spikes To 25-Month Highs As Harvey Curbs Output

Front-month (Sept) RBOB Gasoline futures traded as high as $1.90 this morning – the highest since July 2015 – as more refiners (including America's largest) shutdown output due to Harvey's impact. As Bloomberg reports, America’s largest oil refinery is joining the spate of shut-downs in the face of Tropical Storm Harvey’s apocalyptic rains, potentially reducing […]

RBOB Prices Tumble, Erase Harvey-Induced Gains

Following WTI crude’s drop yesterday – apparently on reduced refinery demand due to Hurricane Harvey – RBOB gasoline is now tumbling, erasing yesterday’s Harvey-related gains, as traders realize the short-term supply disruptions are offset by significant inventories. As Bloomberg’s Poonam Goyal noted previously, a spike in gasoline prices due to Hurricane Harvey, should be short-lived […]