Fuel Flash – May 2023
Oil prices continued their rise back above $80/barrel in the first half of April after OPEC+ announced additional supply cuts. Supply has been getting tighter on its own with recent drops in inventory levels. Now analysts find themselves raising their price forecasts for 2023. The following graph shows the daily price movements over the past three months: Historic flooding in South Florida was the cause for some major supply issues in the Sunshine State during the month of April. With