Bearish inventory news is driving markets lower. WTI Crude is trading at $54.36, a loss of 70 cents. Fuel is down in early trading this morning. Diesel is trading at $1.8965, a loss of 1.7 cents. Gasoline is trading at $1.6593, a loss of 0.5 cents. On Wednesday, the EIA reported a larger-than-expected build in […]
A build at Cushing is putting downward pressure on prices this morning. WTI Crude is trading at $55.34, a loss of 20 cents. Fuel is mixed this morning. Diesel is trading at $1.9544, a fractional loss. Gasoline is trading at $1.6975, a gain of 1.2 cents. On Tuesday, crude prices fell after mixed news from […]
Oil markets could face oversupply in 2020, the IEA says In its latest monthly report, the Paris-based agency cut its oil demand growth figure by 100,000 barrels a day for both 2019 and 2020. Oil demand is expected grow 1.2 million barrels a day in 2020, IEA said in the report. Click here to read […]
Oil prices fell yesterday following comments from Russia regarding future OPEC cuts. Still, positive sentiments on interest rates are buoying the market, providing a bit of support to cushion the drop. The Fed is expected to cut interest rates this week, lifting equity markets to near-record levels. Crude oil is currently trading at $54.83, down […]
Oil prices are trading flat this morning after impressive gains to end last week. Oil prices saw the largest leap since the Saudi oil attack in September, demonstrating the power of positive trade news and low inventory concerns. Crude oil is currently trading at $56.64, unchanged from Friday’s close. Fuel prices are also mixed/flat. Diesel […]
Markets are trending sideways to lower this morning following yesterday’s continued gain for oil markets. Although prices began the day on weak economic data yesterday, the market could not let go of the bullish EIA data. Crude oil is currently trading at $56.10, down 13 cents from yesterday’s close. Fuel prices are remaining in check […]
The Crude Market was up for the week. The week started with positive comments from China regarding trade talks which helped to lift the market. However, by mid-week, inventory news was the major headline driving markets. On Wednesday, the EIA reported a surprise crude draw of 1.7 MMbbls versus expectations of a crude build of […]
The market is trying to continue yesterday’s bull run that was based on a surprise draw. WTI Crude is trading at $56.09, a gain of 12 cents. Fuel is flat in early trading this morning. Diesel is trading at $1.9664, a fractional gain. Gasoline is trading at $1.6524, also a fractional gain. On Wednesday, markets […]
Rising crude stocks are putting downward pressure on prices again this morning. WTI Crude is trading at $53.77, a loss of 71 cents. Fuel is down this morning. Diesel is trading at $1.9261, a loss of 1.8 cents. Gasoline is trading at $1.5989, a loss of a penny. On Tuesday, crude prices rose on positive […]
Electric Vehicle Adoption Overshadowed by SUV Boom There are now 200 million SUVs on the roads globally, up from 35 million in 2010, according to data the International Energy Agency (IEA). In fact, 60 percent of the increase of the global vehicle fleet since 2010 came from SUVs. Click here to read more from OilPrice.com. […]
