Oil prices rocketed higher last night heading into the close, driven by a bullish oil report from the American Petroleum Institute. WTI crude rose by $1.18 just ahead of the close. This morning, crude is trading at $58.58, up 53 cents from yesterday’s close. Fuel prices have also received a lift, with both gasoline and […]
Pipeline operator EPIC to begin U.S. crude export operations by year-end: executive EPIC Midstream Holdings LP has begun filling a new 400,000 barrel per day (bpd) oil pipeline that stretches from the Permian Basin to the U.S. Gulf Coast and will start exporting from its own South Texas terminal by the end of this year, […]
Financial markets are getting a boost from increasing expectations of a Federal Reserve interest rate cut, which would help boost our economy. In the oil arena, this wave of positive sentiment has lifted prices moderately. Crude oil is currently trading at $57.20, up 33 cents. Fuel prices are trading higher as well, though gasoline is […]
Oil prices saw little change last week despite significant ups and downs in trading activity. This morning crude oil remains relatively flat, up just 31 cents to trade at $65.51. Fuel prices are mixed this morning, with diesel tracking crude oil while gasoline dips lower. Diesel prices are currently trading at $1.9081, up 0.4 cents […]
For the week, the Crude Market was relatively flat overall with some peaks and valleys mid-week. The week started out up with positive news about China trade talks. In addition, Iran’s seizure of a British tanker helped to move the market up on Monday. Mid-week spike in prices were influenced by an 11 MMbbls draw […]
Oil started today’s trading higher, but like the rest of the week it’s been a roller coaster ride since then. After trading roughly 1% higher in early trading, prices are now flat. Crude is trading currently at $56.15, now just slightly above Thursday’s close. Fuel prices are trade a bit lower than crude. Diesel is […]
Oil prices got a lift following yesterday’s EIA report but quickly sank lower after the initial surprise from the headline draw wore off. Today, though, markets are getting a lift from the European Central Bank holding interest rates steady, which is supportive for economic markets. Even this morning’s gains, though, are falling back, with prices […]
Oil Spikes After API Reports Largest Crude Inventory Draw of the Year The American Petroleum Institute (API) reported a huge crude oil inventory draw of 10.961 million barrels for the week ending July 18, compared to analyst expectations of a much smaller—but still significant–4.011-million barrel draw. The inventory draw this week compares to last week’s […]
Oil leapt last night as following the API’s report of a hefty crude oil draw. Crude this morning is trading at $56.91, roughly unchanged from yesterday’s higher close. Fuel is mixed this morning due to the API’s data. Diesel prices are trading flat this morning at $1.9224. Gasoline, which saw a surprise build in inventories, […]
The oil complex remains weaker this morning as markets seek clear direction in sentiment. With Iran and US-China trade both looming over financial markets, traders have little clear direction. This morning, crude is trading at $56.03, down 19 cents. Fuel prices are mixed this morning. Diesel prices are trading at $1.8966, down a third of […]
