Stable crude prices, weaker demand, and high inventories moderate gasoline prices heading into Memorial Day

Gasoline prices heading into the 2017 Memorial Day weekend average $2.40 per gallon (gal) nationally, up from last year’s price of $2.30/gal before the holiday weekend. Despite the year-over-year increase, 2017 marks the second-lowest price ahead of the Memorial Day weekend since 2009, when the national average price of regular gasoline was $2.31/gal (Figure 1). […]

Nat Gas News May 25, 2017

Nat Gas News – May 25, 2017 In the News Natural gas facilities with no carbon dioxide emissions Science Daily reports: How can we burn natural gas without releasing CO2into the air? This feat is achieved using a special combustion method that TU Wien has been researching for years: chemical looping combustion (CLC). In this […]

Today’s Market Trend

WTI crude prices have strengthened to approximately $51.50/b this morning. WTI opened at $51.44/b today, an increase of $0.40, or 0.78%, above yesterday’s opening price. Current prices are $51.52/b, $0.05 above yesterday’s closing price. Product prices opened higher during the current session and are trending up in early morning trading. Diesel opened at $1.6101/gallon this […]

OPEC Compliance January-April 2017: A Chart Series

OPEC and Non-OPEC producers will be meeting tomorrow to discuss, and possibly finalize, an agreement to extend their production cuts beyond the original January-June 2017 period. The possibility of a six-month extension had been included in the original agreement. However, with global oil inventories remaining stubbornly high, the participants have been considering a nine-month extension […]

Nat Gas News – May 24, 2017

Nat Gas News – May 24, 2017 In the News US Northeast DUCs to continue boosting gas output Platts reports: The puzzling drawdown in US Northeast inventories of drilled-but-uncompleted wells — in sharp contrast to the broader industry trend — is likely to continue buoying regional gas production in the near term as risk-averse producers […]

Today’s Market Trend

WTI crude prices are just above $51/b this morning. Prices eased slightly from their highs yesterday, but early morning trading has brought a small uptick in prices. WTI opened at $51.04/b today, an increase of $0.44, or 0.87%, above yesterday’s opening price. Current prices are $51.05/b, $0.08 below yesterday’s closing price. Product prices opened higher […]

EIA Gasoline and Diesel Retail Prices Update

The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended May 22nd, 2017. Prices for diesel fell modestly, while gasoline prices rose significantly. Retail prices followed crude prices down over the past four weeks, but with crude prices now on an upswing, product prices are following, […]

Today’s Market Trend

WTI crude prices reached $51.00/b this morning, after continuing their upward trend on Friday. Friday’s market closed at $50.33/b, a gain of $2.48 over the course of the week. WTI opened at $50.60/b today, a major jump of $1.32, or 2.68%, above Friday’s opening price. Current prices are $51.00/b, an increase of $0.67 above Friday’s […]

OPEC Net Oil Revenues in 2016 Were the Lowest Since 2004

Members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $433 billion in net oil export revenues in 2016, the lowest since 2004. In real dollar terms, the 2016 revenue represents a 15% decline from the $509 billion earned in 2015, mainly because of the fall in average annual crude oil prices and, […]

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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