Fuel Flash – September 2023
Early in August, oil prices jumped as Saudi Arabia once again extended their one million barrels per day cut into September. Signs continue to point towards another extension in October which will keep supply tight. Hurricane season is off to a fast and furious start with four storms in about a two-week period. The following graph shows the daily price movements over the past three months: Around the midpoint of August, oil prices began to cool with news about China’s