FUELSNews will resume publication on Tuesday, September 3. Happy Labor Day! Oil prices are trading lower this morning after steady gains this week. There’s little news influencing global oil prices ahead of the holiday weekend, though in the US markets are closely watching Hurricane Dorian for demand-dampening impacts and any potential shift towards Gulf of […]
For the week, the Crude Market was up. Early in the week, the Fed’s dovish stance and positive sentiment regarding the trade war with China helped to lift markets. A much larger than expected crude draw reported by the EIA gave the market a boost to close out the week. Making headlines as the week […]
The EIA’s data released yesterday morning lifted oil prices from its slump earlier this week. In fact, the whole oil complex received a solid boost from the report. Crude oil is trading at $56.16 this morning, up 38 cents. Fuel prices moved higher in their own rights, up 3.5 cents and 4.2 cents for diesel […]
Oil prices have been boosted once again by substantial draws from US crude inventories. The API’s data yesterday afternoon shattered the flat trading of the day, resulting in greater than $1/bbl gains heading into the close. This morning, WTI crude is sustaining that growth, up another $1.37 to trade at $56.30. Fuel prices are also […]
The US is about to send a lot more oil into an already oversupplied world market In the last decade, the U.S. has more than doubled oil production to 12.3 million barrels a day, making it the world’s largest producer. But the infrastructure needed to transport that crude out of Texas oil fields and onto […]
Oil prices ended yesterday with some fairly large losses despite early gains, with crude closing below $54 and diesel falling beneath $1.80 for the first time since early August. This morning, WTI crude is trading at $53.90, up 26 cents. Fuel prices are also moving higher. Diesel prices are currently trading at $1.8008, up 0.8 […]
Oil prices are once again tip-toeing higher after ending last week with significant losses. Still, price remain bound within the $50-$60 range in which they’ve held steady since May. Today, prices head back towards the midpoint of that range. WTI crude oil is currently trading at $55.16, up almost a dollar from Friday’s close. Fuel […]
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 API […]
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. […]
