Walsh's Oil Co.

05/07/2026

05/07/2026 Home heating oil prices are like riding a roller coaster...Up and Down...Today's price $4.89 per gallon...www.walshsoil.com

04/11/2026

04-10-2026 Some good news...Heating Oil Price ↓↓↓ from $5.29 a gallon down to $4.99
www.walshsoil.com

03/29/2026

“This is the worst I’ve seen,” said Sankey, who started his career at the International Energy Agency in 1990. “We’ve seen nothing like this, possibly since 1973. The oil shock is the worst since the Arab oil embargo against the U.S. and other Western nations over their support for Israel in 1973 Mideast war...

The oil industry's grim outlook for global oil and gas supplies stands in contrast to the Trump administration's promise that the disruption is short term.

03/21/2026

It's like watching a TV Show Rerun...

In July 2008, oil prices hit a record high near $147–$150 per barrel, driven by surging demand from China, geopolitical tensions in the Middle East (specifically Iran), and high market speculation. Prices subsequently collapsed to below $40 by December 2008 as the global financial crisis deepened, triggering a major demand shock.

Key Factors Behind the 2008 Price Spike:
Surging Demand & Limited Supply: Rapid industrialization in China drove up global oil demand while production capacity remained limited.
Geopolitical Tension: Fears of disruptions in the Middle East, particularly tensions between Iran and Israel, caused concerns about supply.
Speculation: Significant investment in oil futures by speculators created an "oil bubble," pushing prices far above what fundamental demand suggested.
Weak Dollar: The weakening U.S. dollar prompted investors to put money into commodities like oil as a hedge.

The Peterson Institute for International Economics (PIIE) is an independent nonprofit, nonpartisan research organization dedicated to strengthening prosperity and human welfare in the global economy through expert analysis and practical policy solutions.

03/20/2026

03/20/2026

https://www.burkeoil.com/value-added-services/energy-market-updates/prices-continue-to-soar-as-iranian-conflict-drags-on?utm_campaign=Market%20Blog&utm_content=373672332&utm_medium=social&utm_source=facebook&hss_channel=fbp-149025551789984&fbclid=IwY2xjawQqOstleHRuA2FlbQIxMQBzcnRjBmFwcF9pZBAyMjIwMzkxNzg4MjAwODkyAAEe9SQXnz2KNtwFQxOqSZtDM9BytZnkPlrRda6NFcLVOa7fP0kUiVdVyRlRjA4_aem_oUq4bHCERS8qECPc1Bc7GQ

Fuel prices surge as the Iranian conflict continues, impacting global markets and delaying the reopening of the Strait of Hormuz.

03/09/2026

Release the Kraken!
The Strategic Petroleum Reserve (SPR) is the world's largest emergency supply of crude oil, maintained by the U.S. Department of Energy (DOE). It was established in 1975 to protect the U.S. economy from severe oil supply disruptions, such as the 1973–74 oil embargo.
The oil is stored in 60 massive underground salt caverns located at four sites along the Gulf Coast of Texas and Louisiana:
Key Facts (as of March 2026)
Total Capacity: Approximately 714 million barrels.
Current Inventory: Roughly 415.4 million barrels as of March 2, 2026.
Drawdown Capability: The reserve can release up to 4.4 million barrels per day, which takes about 13 days to reach the market following a presidential order.
Recent Activity: In 2022, the Biden administration authorized a historic release of 180 million barrels to address supply disruptions caused by Russia’s invasion of Ukraine. As of early 2026, the administration has been working to refill the reserve, recently securing contracts for deliveries at an average price of approximately $74.75 per barrel.

03/08/2026

Oil continued its recent surge Sunday, hitting $100 per barrel for the first time since July 2022 as the ripple effects from the U.S. war on Iran continued to hit global markets.
Oil rose again after a record 35% jump last week. In addition to surging oil prices, U.S. retail gas prices also soared to a national average of more than $3.450 per gallon.

03/05/2026

FYI...If you need heating oil, only purchase the minimum amount until things cool down in the mideast...Our cost for buying heating oil has increased .85 cents a gallon since the conflict / war began...Our profit margin has remained the same...Your local heating supply dealer is not causing prices to rise...

03/03/2026

https://www.msn.com/en-us/news/world/oil-prices-soar-after-attack-on-iran-what-it-means-for-us-economy/vi-AA1XmDHQ?ocid=socialshare