Tom Kloza

Chief Energy Advisor, Gulf Oil. Keynote speaker, cofounder of OPIS. Been covering energy markets since Jimmy Hoffa went missing.
[email protected]

[Tom Kloza @TomKloza_]

Diesel molecules are commanding some stunning premiums to gasoline. CME ULSD settles at $1.815/gal over RBOB (about $76.25/bbl) in November. Will this premium get to $2/gallon? Some traders think so.

[Tom Kloza @TomKloza_]

Morgan Stanley note on public refiners today estimates that 3Q earnings rose 60% quarter-on-quarter, but bank warns that investors are pricing in refining margins that are about 30% above historical levels. Earnings commence next week.

[Tom Kloza @TomKloza_]

US gas prices need to drop an average of 2cts/gal per day to slip below $4/gal by Election Day. You may see price drops at this rate in coming days thanks to double digit wholesale drops for gasoline this morning, but I doubt whether there's enough reverse mojo to slip under $4.

[Tom Kloza @TomKloza_]

The gasoline "crack" at the Gulf Coast has virtually collapsed. Winter grade blendstock fetches a current price of ~$121.70/bbl, and the RVO is $11.80/bbl. Single digit margins for refiners processing very prompt sweet crude. Shift happens quickly.

[Tom Kloza @TomKloza_]

TACO Tuesday? US and Iran have reportedly given preliminary approval to a new compromise proposal from Qatar and Pakistan, per Reuters It follows a report Monday that a breakthrough deal between Washington and Tehran could be announced as soon as this week, and Iran’s president

[Tom Kloza @TomKloza_]

In a note today, Goldman Sachs calculates that refined products exports out of the Persian Gulf are at a flow rate some 40% of average movement in 2025, reflecting Mideast refinery outages and vessel concentration on crude.

[Tom Kloza @TomKloza_]

Le Colonial 5th avenue. If you fancy a steakhouse, Andre's is a bit off the beaten path.

[Ivan the K™ @IvanTheK]

Restaurant recs for downtown Naples, FL?

[Tom Kloza @TomKloza_]

Senior citizens and the folks that live in Northeastern trailer camps and mobile home parks often use kerosene to generate heat. That product (ultra-low sulfur kerosene) soared to nearly $240/barrel today in New York Harbor action.

[Tom Kloza @TomKloza_]

On an otherwise quiet day, physical prices for jet fuel rose 15-17cts/gal in New York and at the Gulf Coast. Assuming that some jet fuel exports were worked for European or Asian markets.

[Tom Kloza @TomKloza_]

Remember this appearance? $45-$50/barrel crude. The most dangerous man in the world is the glib incompetent.

[Infinitus Capital @InfinitusCap]

Omg
HOLD ON TO YOUR PANTS
Because he was dead wrong on March 9
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CNBC's Jim Cramer has now completely flipped: "I am in the $50 to $45 camp!"
Video from CNBC minutes ago
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$CL_F #OOTT #CRUDEOIL #BRENT
@OilHeadlineNews @JuliOnTwtr

[Tom Kloza @TomKloza_]

No truth to the rumor that Aramco has hired the Dallas Cowboys' defensive coordinator to protect the East/West Pipeline.

[Tom Kloza @TomKloza_]

Sluggish start but diesel now heating up. Nov. futures top $207/bbl; New York Harbor goes to $212.75/bbl; Gulf Coast is $200.75/bbl; Chicago at $194.25/bbl; Los Angeles at $218.10/bbl; SF at $234.10/bbl and PacNW tops $234.10/bbl. Impressive prices with WTI at $101.85/bbl.

[Tom Kloza @TomKloza_]

Probably accurate for gasoline but the fall has been hastened by lower taxes or tax suspension in 7 states. New diesel peak may arrive this month, or this winter.

[Z4 Energy Research @ZmansEnrgyBrain]

GTK #OOTT

[Tom Kloza @TomKloza_]

Wow. Did Hess want to roll out a vehicle that uses $6.50/gallon diesel? Interesting choices.

[Tom Kloza @TomKloza_]

Be careful. It appears as though oil storage tanks are spectacularly ablaze but key equipment at the refinery may have been spared. This is the problem with assessing Russian processing woes.

[Patrick De Haan @GasBuddyGuy]

Ukraine hit another Russian refinery, this time in Saint Petersburg over the weekend, a major refinery at 355,000bpd- well above the U.S. average refinery size of 141,000bpd for comparison

[Tom Kloza @TomKloza_]

Last week saw Gulf Coast crack spreads drop by more than $7/barrel to less than $65/barrel. This level is still more than twice the norm seen this century so don't expect any cuts. Gasoline opens new week at $128.75/bbl with diesel a spectacular $198/bbl.

[Tom Kloza @TomKloza_]

Yep. This turned market around about 30 minutes ago.

[jck✨ @Alea_]

🛑🛑🛑🛑🛑 U.S. lawmakers introduced a bill aimed at preventing President Trump from concluding a diesel deal with Russia.

[Tom Kloza @TomKloza_]

Lots of irony in global oil markets. A 110,000 bbl tanker loaded with diesel departed from St. Petersburg Russia yesterday for Norfolk, VA. Will that fuel be used by the US Navy?

[Tom Kloza @TomKloza_]

Interesting. Backwardation down to about $10/bbl over six months through May 27.

[*Walter Bloomberg @DeItaone]

US DEPT OF ENERGY SOLICITING AN EXCHANGE OF UP TO 17,000,000 BARRELS OF CRUDE OIL FROM SPOR

[Tom Kloza @TomKloza_]

is ramping up its effort to get individuals and companies to make bets on gas prices. TV ad highlight US gas prices and marketers & individuals are being told they can hedge fuel costs with Kalshi. People bet on politics and sports, so gas prices could be the next sweet spot.