Oil Slick Stuff

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Here is your reminder that while wholesale gasoline futures are all over the place, American-made fuel ethanol at the CME continues to trade below $2 a gallon. If only those energy companies sold ethanol at the pump at the same markup they do gasoline, E85 would be priced at 50% of gasoline. At that price E85 makes sense.

CME ethanol futures today at $1.99
 
Hang on- oil climbing again.

Oil Prices Jump After U.S. Strikes Iranian Missile Sites​

By Josh Owens - May 25, 2026, 9:35 PM CDT
Military jet on the runway with a sunset at its back.

Oil prices spiked in early Asian trade on Tuesday, after the U.S. military launched strikes on targets in southern Iran, reigniting fears of military action just a day after prices had dropped dramatically on promises of a peace deal.

At the time of writing, Brent futures had climbed to $98.39 per barrel, up 2.34% on the session after plunging 7% on Monday. WTI futures also climbed, but, as there was no settlement on Memorial Day, they remained 4.98% down from the start of the week at $91.79.

More: https://oilprice.com/Latest-Energy-...ter-US-Strikes-Iranian-Missile-Sites.amp.html
 
I pay zero attention to the oil price news articles; they take the info and guess. I have regularly been seeing rise and fall, soar and plummet at the same time from different outlets based on the same event. A quick look at the articles this morning I see oil futures drop and fall, as well as rise and rebound. Also a 5-week low article. Maybe we add the up and down articles and do an average lol.

To be honest if I can keep gaining with oil prices at $90-100+ a barrel. I will gladly pay more at the pump every 2 weeks to keep padding my investments.
 
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Exxon Senior VP says $160 a barrel is not far away. Says the strategic reserves released will run out soon, and then prices will skyrocket, until demand breaks down. Says maybe 3 weeks?



“We're approaching unheard of inventory levels. I mean, really, really low levels. You can debate whether that's going to hit those really low levels in two weeks or three weeks. Once you get to that point, then you'll see price shoot up. A model would say dated Brent will shoot up. Once you get to that really low inventory level, up to $150, $160.The models would tell you that. And then what happens is when the price gets to a certain level, demand destruction brings it back into balance. Prices go so high, it becomes unaffordable. And that's what happens. And so we're at that level right now.

Next, Chapman connected all the abovementioned dots: "I think crude being in this sort of $90 to $110 for the last whatever it is, six weeks, has really been mitigated by running down inventories. It can't last forever. So we'll see what happens.... predicting this and the exact timing, it's always a challenge. But that's the way we see the picture."

More:
oilprice.com

Supermajor Warns Oil Prices Could Hit $160 Within Weeks | OilPrice.com

Exxon and Chevron executives warn at Bernstein conference that near-record-low oil inventories will push Brent prices to $150-$160 within weeks.
oilprice.com oilprice.com
 
Gas Buddy is showing gas at $4.35 to $4.89 per gallon this morning. The stations closest to me are at $4.49/gallon. This is of course regular gas. Premium is well over $5.00/gallon. On station has premium at $5.99/gallon.
 
The Oil Market Is Near a Tipping Point
Executives from Exxon Mobil and Chevron as well as a major oil-trading firm have warned recently that inventories of oil and refined products are going to get critical in the next several weeks.
Click to expand...

The International Energy Agency, in a joint statement with other multilateral organizations, warned last week about the economic consequences of “rapid depletion of oil inventories ahead of peak summer oil demand.”
Click to expand...
 
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