The EIA reported a larger-than-expected build in crude stocks. This bearish news may be outweighed by the first draw at Cushing in seven weeks. WTI Crude is trading at $56.93 a gain of 16 cents. Fuel is flat this morning. Diesel is trading at $1.9194, a fractional gain. Gasoline is trading at $1.6229, also a […]
The Crude Market was down for the week. The market was up and down to start the week as it tried to figure out what to make of pessimistic trade news and OPEC’s jawboning to start the week. Traders seemed to latch onto bullish inventory news reported by the API late Wednesday of a surprise […]
A surprise draw in crude stocks is putting upward pressure on prices this morning. WTI Crude is trading at $57.55 a gain of 43 cents. Fuel is up this morning. Diesel is trading at $1.9345, a gain of 2.2 cents. Gasoline is trading at $1.6456, a gain of 0.9 cents. Crude prices rose after the […]
A lack of progress in getting a trade deal done is putting downward pressure on prices this morning. WTI Crude is trading at $56.43, a loss of 37 cents. Fuel is down this morning. Diesel is trading at $1.8718, a loss of 2.6 cents. Gasoline is trading at $1.6075, a loss of 0.7 cents. On […]
World thirst for oil keeps growing, with SUVs a key culprit The world’s thirst for oil will continue to grow until the 2030s, with climate-damaging emissions climbing until at least 2040 — and consumers’ insatiable appetite for SUVs is a big reason why. Mounting demand for plastic is another factor. So is increasing plane travel. […]
Tired of the oil market rumor mill? Heard too much about China and OPEC? We feel you. Oil prices have been balanced within the $50-$60 range for months now, constantly driven one way or another by speculation regarding US-China trade and OPEC production targets. Nearly every headline on both issues become irrelevant within a week […]
Friday saw some bumpy trading action for oil markets, with oil prices slipping in the morning before rising again heading into the close. Weakened trade sentiments are weighing on oil this morning. Crude oil is currently trading at $56.45, down 79 cents from Friday’s close. Fuel prices are sinking lower as well after small losses […]
Crude markets were up for the week. Positive sentiment regarding trade talks between the US and China overshadowed bearish inventory news this week. Agreements between the two countries to cancel tariffs in different phases was the major market driver to close out the week. Mid-week news from the EIA regarding a larger-than-expected crude build moved […]
After rising to the highest point since September yesterday, crude markets retreated while retaining 80-cent gains. Today, those gains have been shed. Crude oil is currently trading at $56.17, down 98 cents (1.7%) from Thursday’s close. Fuel prices are down as well, with diesel leading the complex lower. Diesel prices are trading at $1.8795 this […]
Positive trade news out of China late yesterday is driving markets higher this morning. WTI Crude is trading at $57.30, a gain of 95 cents. Fuel is up in early trading this morning. Diesel is trading at $1.9439, a gain of 1.6 cents. Gasoline is trading at $1.6394, a gain of 1.3 cents. On Wednesday, […]
