After crude prices picked up $2/bbl yesterday, markets are cooling off and awaiting EIA data later this morning. Crude oil this morning is currently trading at $53.57, down 33 cents. Fuel prices are also taking a breather after both products saw roughly 3 cent gains. Diesel is trading this morning at $1.8224, down half a […]
Oil Prices Jump on Hopes of End to U.S.-China Trade War Oil prices erased earlier losses and surged on Tuesday morning after U.S. President Donald Trump said that he would meet his Chinese counterpart next week to discuss the ongoing trade dispute, lending hope to the oil market that talks will resume after weeks of […]
Oil markets, along with equities, are leaping higher this morning following positive trade news. Driven by a larger market surge, crude oil is currently trading at $53.88, up $1.95 (+3.8%). Fuel prices are also getting a lift. Diesel prices are trading at $1.8301, a 3.1 cent increase (+1.7%). Gasoline prices are $1.7229, up 3.2 cents […]
Markets continue trading within their relatively low range, with crude still drifting between $51 and $53. The weekend was light on fundamental market changes, leaving traders to continue speculating over economic concerns and OPEC cuts. Crude oil is trading at $52.27 currently, down a small 24 cents. Fuel prices are also dipping lower today. Diesel […]
Today markets continue rising as the market grapples with the implications of the oil tanker attack in the Gulf of Oman. Crude picked up just over a dollar yesterday on geopolitical concerns. WTI Crude is trading at $52.74 currently, up an additional 46 cents. Fuel prices received a similar lift yesterday. Diesel is trading at […]
My last editorial, dated May 17th, was either about tea leaves or the market needing to take a breather. Either way, since that date the crack spread declined $2.5/bbl, WTI declined over $10/bbl and ULSD futures tumbled $.30/gal. In that article, I highlighted the fact that refinery utilization was seasonally behind due to turnarounds. Throughput […]
Markets are rebounding from yesterday’s heavy losses following reports of renewed concerns on Middle East stability. Crude, which fell as low as $50.72 yesterday, ended the day with $2/bbl losses. This morning, crude is trading at $52.21, up $1.07. Fuel prices are also bouncing back this morning. Yesterday saw diesel prices down over 4 cents […]
The API threw another wrench in rising oil prices by forecasting another large build for crude oil stocks. Markets quickly reverted lower, dragging down fuel prices as well. Crude oil this morning is trading at $52.16, down $1.11/bbl. Fuel prices are once again pushing against recent lows. Diesel prices are currently trading at $1.8074, down […]
Can Shale Survive Low Oil Prices? Lower oil prices could drag down U.S. shale drillers at a time when their finances are already looking shaky. But the impact on oil production growth is still murky. Complicating matters further for Texas shale drillers is the increasing shift of the oil slate to lighter forms of crude. […]
Oil prices are once again trying to inch their way higher after a moderate drop yesterday. Prices are up almost 1%, after falling a similar amount on Monday. Crude oil is currently trading for $53.75, up 49 cents. Fuel prices are also on the rise today. Diesel prices are currently trading at $1.8206, a 1.4 […]
