The Core Fuels Market Outlook For January, 2023

Energy markets, across the board, continued to slide in January as inventories build. Crude oil is trading in the mid-70s and has been trending downwards. Unfortunately, Canadian crude is still selling at a major discount to the WTI benchmark – which doesn’t benefit anyone. The lower crude market and inventory builds have helped push gasoline and distillates downwards. Propane prices endured a slight rise over the New Year but have receded lately. We appear to be well supplied with all energy products heading into February.