Author Archives: Ernie Barsamian

Fueling the Future: Crude Price Surge Ignites Renewable Energy Momentum

August 16, 2023
Posted in Tank Blog
By Ernie Barsamian

Showing no sign of fatigue, crude prices continued to climb last week, finishing 0.4% higher for the week at $83.19 – notching its seventh consecutive weekly gain. It’s not quite Joe Dimaggio, but that’s a pretty healthy streak. Global demand has been persistent and the pledge from OPEC+ to cut supply so far remains resolute. We’ll have to watch […]

Post Tagged with : Oil, Renewable Fuels

Summer Drama: Inflation & OPEC clash

August 9, 2023
Posted in Tank Blog
By Ernie Barsamian

Guess what. Summer is almost over. This could be the most expensive back-to-school shopping season ever, the National Retail Federation projects. What are you going to do if your kid has absolutely nothing to wear. Drama drama drama. Speaking of drama, inflation escalated to its highest level in decades. But, like Led Zeppelin said: You need cooling Baby I’m not […]

Post Tagged with : oil storage

It’s Pina Coladas time: A Sunny Outlook for Oil Prices and the Economy

August 1, 2023
Posted in Tank Blog
By Ernie Barsamian

If you like piña coladas And gettin’ caught in the rain If you’re not into yoga If you have half a brain Indeed, it is pina colada time for the contango loving crude terminal operators and wholesale product marketers. Backwardation has once again secured the Infinity Stones and snapped contango back to dust. The Wall Street […]

Post Tagged with : oil storage

Unveiling the Jet Fuel Market: The Tank Tiger’s Data Reveals Price Drops and Supply Surges

July 26, 2023
Posted in Tank Blog
By Ernie Barsamian

The chart illustrates the relationship between jet fuel storage demand and the price of jet fuel over a specific period. It shows that just before the price of jet fuel experiences a significant decline, there is a noticeable spike in the demand for jet fuel storage. Based on The Tank Tiger’s proprietary storage demand […]

Unveiling OPEC’s Mysterious Moves: Lollipops, Tantrums, and the Unpredictable Oil Market

July 26, 2023
Posted in Tank Blog
By Ernie Barsamian

“If a tree falls in a forest and no one is around to hear it, does it make a sound?” If you were at the OPEC+ meeting last week, you probably weren’t working for Reuters, Bloomberg or the Wall Street Journal. Apparently the leaders of the cartel didn’t want anyone to know what they were discussing or […]

The Global Game of Chicken: OPEC+, Short Sellers, and Record U.S. Oil Production

July 26, 2023
Posted in Tank Blog
By Ernie Barsamian

Date 7/18/23 In a global game of chicken on the world’s grandest stage, OPEC + has repeatedly bragged about its production cuts and collaborative stamina in its efforts to bring “price stability” to the market. On the other side, the brash Wall Street paper trading short selling energy traders said “Hold My High Noon” and scoffed […]

Tank Tiger Tales: Cape Cod Adventure, Oil Prices, and Market Surges

July 26, 2023
Posted in Tank Blog
By Ernie Barsamian

It was great seeing everyone on Cape Cod last week. We saw many customers of The Tank Tiger and were excited to meet so many potential new ones. In fact, we had so much fun that The Tank Tiger is operating out of our Falmouth, MA office this week where this morning it is a delightful and […]

Pulp Fiction: Heat Waves, Oil Prices, and Storage Inquiries

July 26, 2023
Posted in Tank Blog
By Ernie Barsamian

The plot has definitely thickened. In fact, it’s all ponco and convoluted. Heat waves can have significant effects on the energy business, impacting both the supply and demand sides of the equation. Crazy temps result in increased electricity demand and strain on power generation. Extremely hot temperatures can reduce the efficiency of solar panels and, of course, lead to […]

PADD 1B Bio Storage Demand & Imports

July 26, 2023
Posted in Tank Blog
By Ernie Barsamian

According to The Tank Tiger’s Storage Demand data, in late May through June of last month there was a sharp increase in storage demand for Bio. Entirely all of this demand was from imports via Vessel. Since there is already a shortage in heated bio tanks in NY Harbor, other ports outside in PADD 1B […]