This morning crude was trading at a near three-year high as prices continued to rally following the hurricanes in the Gulf of Mexico that disrupted fuel supply this month. Today crude opened up at $74.19, trading as high as $75.56. Diesel opened the morning at $2.2693, and gasoline opened at $2.1874. In the wake of […]
Oil prices are at their highest level since July thanks to supportive inventory data this week. The Federal Reserve announced plans to slowly taper their bond-buying stimulus over the next year, which normally would cause prices to drop. However, given months of forewarning and planning, markets are taking the announcement in stride, even lifting oil […]
This week saw news about what could be the coldest winter many of us have seen in quite some time. Last weekend Goldman Sachs released new information forecasting boosted oil demand this winter season, triggered by an expected colder winter in Europe and Asia. Because of a potential global increase in wholesale power and gas […]
Natural Gas News – September 23, 2021 It’s Going to Be an Expensive Winter for Natural Gas Global supply of natural gas has been at some of its lowest reserves thanks to a year of historic weather events, from freezing, to drought, to hurricanes, and natural gas prices are already surging. With winter still looming, […]
Today oil prices let up slightly, but still remain above the $72 dollar mark. Crude oil opened the day at $71.97, while diesel opened at $2.2110 and gasoline at $2.1164. These prices result from growing demand for fuel and a U.S. crude inventories draw that has been impeded by the two hurricanes we saw this […]
Financial markets are getting a boost this morning thanks to a capital injection of roughly $18.6 billion from China’s central bank. We reported yesterday that Evergrande, the Chinese real estate giant, is having trouble making their debt payments; for now, it appears they’ll be able to continue operating. As investors breathe a big sigh of […]
Oil prices lifted on expectations for another drop in U.S. crude inventories Oil futures rose Wednesday, finding support after industry data showed a large drop in U.S. crude inventories. “Prices were additionally lent buoyancy by the decline in U.S. crude oil stocks reported yesterday by the [American Petroleum Institute], even though this was due primarily […]
Natural Gas News – September 21, 2021 Industrials group points to winter gas price increase to push for limits on US Seizing on higher US natural gas prices expected this winter, a group of industrial manufacturers is making a pitch for the Department of Energy to limit LNG exports and put a hold on some […]
Oil prices dropped significantly yesterday following shockwaves caused by Evergrande, a Chinese real estate behemoth. The company, which owes $300 billion to its partners and earned just $8 billion this year, has seen its stock price fall 85% over the past six months. Some have compared their financial woes to the Lehman Brothers’ collapse in […]
This morning crude opened at $71.92. This drop of more than $1 per barrel comes as risk aversion continues to rise, boosting the United States dollar. Falling prices also reflects the output being added back to the market, as many refineries are back online in the U.S. Gulf following two hurricanes in the past few […]
