This morning oil hit a seven-week high as ongoing disruption in the East continues with the European Union’s push for a complete ban on Russian oil. With the continued supply chain pressure, many are now concerned about what will come from Finland’s official request to join NATO. Today crude oil is up from $1.01 to […]
Last week ended with a huge increase in gasoline prices, propelling the lighter hydrocarbon above diesel fuel costs for the first time since September 2021. Typically, gasoline prices climb in April as summer gasoline formulations become required, but diesel prices have been so elevated that gasoline’s gains have seemed meager by comparison. With US gasoline […]
This week readers learned about the European Union and their crude ban, how American inflation is continuing to rise, and East Coast diesel prices skyrocketing this week. Over the weekend, the European Union started to lean heavily toward completely banning Russian oil imports by the end of 2022. Diplomats from the EU engaged with European […]
On Monday we talked about the possibility of the EU banning Russian crude altogether in response to the ongoing conflict in Ukraine. You can find that article here. Now, more details are emerging about this new ban on Russian product, sending prices upwards of +4% today. Today the president of the European Commission laid out […]
India Wants To Buy Russian Oil, At Below $70 A Barrel The world’s third-largest oil importer, India, is negotiating steep discounts for the Russian oil it is prepared to buy, asking for below $70 per barrel price to compensate for logistics, financing, and sanctions troubles for buying crude that is now toxic for most of […]
Despite comments from the Federal Reserve last year that inflation is merely transitory and short-lived, many experts are increasingly expecting that inflation in the United States will be a prolonged problem for many years to come. With commodity market prices skyrocketing and no immediate relief in sight for consumers, the question remains – will inflation […]
After a wild week that saw diesel prices skyrocket above $5/gal for the first time ever, markets are cooling off a bit this morning. The expiration of the May diesel contract sent prices higher as traders scrambled to find the physical supply; now that futures are pointing towards June as the prompt month, prices have […]
This week news of oiling hitting two-week lows, reports of summer prices to be highest since 2014, U.S. dollar increases, and airline concerns all made headlines. First, earlier in the week oil hit a two-week low due to Chinese lockdowns. In Shanghai, the world’s fifth-largest city, conditions are deteriorating as the government attempts to reign […]
This morning oil prices are fluctuating heavily as the market continues grappling with uncertainty. With Russian product restrained along with weakening Chinese demand, the supply chain is seeing plenty of ups and downs. This has now started to affect pricing in other industries, with airlines seeing some of the highest jet fuel prices in years. […]
Today oil is down slightly as a rising US Dollar presents headwinds for commodity prices. This week the dollar hit a two-year high as commodities continue to take a dip. A rising dollar makes oil more expensive for other countries who must trade their weaker currencies for USD before buying the oil; this rising cost […]
