Markets are taking a huge hit this morning, led lower by WTI crude, in response to China’s escalation of tariffs on the US. WTI is taking the lion share of the hit, with WTI crude prices trading this morning at $53.97, down $1.38 (2.5%). Brent crude is trading just 88 cents (1.5%) lower today. Fuel […]
For the week, the Crude Market was relatively flat. On Monday, the market was up on the news over the weekend of Yemen’s Houthi rebels drone attack. By mid-week the API reported a -3.5 MMbbls draw which was larger than expected, but the following day the EIA reported a -2.7MMbbls draw which was less than […]
The EIA’s report failed to drive enthusiasm for markets yesterday, triggering a decline of nearly a dollar for crude oil prices, though fuel prices ended the day higher. This morning, crude is recouping some of the losses, while fuel prices remain higher. WTI crude is currently trading at $56.13, up 45 cents from Wednesday’s close. […]
How Much Crude Oil Has The World Really Consumed? The Energy Information Administration (EIA) estimates that the world consumed 96.92 million barrels per day in 2016, with the top 10 consumers accounting for 60 percent of the total consumption. That’s nearly 100 million barrels per day. The top three oil consumers—the United States (20%), China […]
Oil continues its creep higher this morning, ending yesterday relatively slightly higher despite moving lower earlier in the day. Inventory data is the highlight story of the day, along with news from our neighbor to the north. Today crude is trading at $57.01, up 88 cents (1.6%) from yesterday’s close. Fuel prices are up in […]
After a modest rally yesterday, crude is giving back some of those gains in early trading today. Crude is currently trading at $56.05, a loss of 16 cents. Fuel prices are flat. Diesel is trading at $1.8421, up 0.9 cents. Gasoline is trading at $1.6658, a gain of 0.1 cents. Crude was up 2% yesterday […]
With prices up, down, and all-around last week, it will be interesting to see how things shake out this week. Today oil is trading higher following new geopolitical risk in the Middle East, which highlights the dangerous territory the region has become. Crude oil is currently trading at $55.77, up 90 cents. Fuel prices are […]
For the week, crude prices were up slightly. The week started up on Monday on news of falling rig counts. On Tuesday the market spiked over $2 on the news that Trump would delay part of the latest round of tariffs from September to December. However, Wednesday brought back recessionary fears as the yield curve […]
Markets once again dropped yesterday amidst weakened economic prospects, and today prices are trading relatively flat. Crude prices are currently $54.79, up 32 cents. Fuel prices are also in the green, though with mixed degrees of exuberance. Diesel prices are trading flat at $1.8117. Gasoline prices are leading the market higher, trading up 1.4 cents […]
In a continuation of yesterday’s losses, oil prices are trading lower this morning. Crude oil prices are trading at $54.46 this morning, down 77 cents from Wednesday’s close. Fuel prices are also falling today. Diesel prices are currently $1.8173, down 2.6 cents. Gasoline is trading at $1.6425, down 3.3 cents. The EIA report was mostly […]
