Today oil prices are up again as sweeping summer demand for gasoline and diesel are shaking up the market. This new peak summer demand has gasoline at nearly $5/gallon in all states as more and more people are hitting the road for vacation. This comes as yesterday oil prices were staying near 3-month highs as […]
This morning oil prices are staying near 3-month highs as China imposes new lockdown restrictions in the financial hub of Shanghai due to the ongoing COVID-19 crisis. The new lockdowns come at a time when the future was looking brighter for Chinese residents after the previous restrictions saw millions locked up in their homes for […]
Summary by Noah Young Oil prices advance despite U.S. inventory rise Oil prices rose on Wednesday, despite a likely rise in U.S. oil stocks, on the easing of Chinese COVID-19 related lockdowns and a possible strike by Norwegian oil workers. Brent crude futures were up $1.19, or 1%, at $121.76 a barrel at 1325 GMT. […]
Oil prices are rising this morning as summer gasoline prices continue to bode ill for consumers. In many parts of the United States, gasoline prices are well above $5/gallon as reported in Monday’s edition of FUELSNews Daily. With prices continuing their trend upward, many are saying that oil will reach a $150/bbl mark. This week […]
This morning crude prices are slightly up and hovering around the $120/bbl mark after falling following an OPEC+ supply deal. This deal saw Saudi Arabia raise their July prices after continued supply disruptions are still evident due to the Russian conflict in the East. Before the Saudis initiated this price increase, OPEC+ decided last week […]
Oil prices jump after EU leaders agree to ban most Russian crude imports Oil prices surged on Tuesday after EU leaders reached an agreement to ban 90% of Russian crude by the end of the year. However, prices reversed course around 2 p.m. ET Tuesday following a report from The Wall Street Journal that OPEC is considering […]
This morning oil prices are up slightly following the continued reaction to the Russian oil ban as well as China ending its Shanghai COVID-19 lockdowns. To make matters worse for consumers, average national gasoline prices have reached a new record-high, causing more pain at the pump as summer driving season has arrived. According to AAA […]
After weeks of negotiations and discussions, the EU has formally announced a ban on Russian oil. The agreement, reached on Monday, will see 90% of Russian crude banned by the end of this year. With this new ban, oil prices this week have been on the rise, reaching highs not seen since early March. The […]
Headlines this week included ongoing supply chain tightness, some methods the White House thinks will lower fuel costs, understanding the SPR, and a look ahead to Memorial Day. Summer is nearly here, which means travel is going to pick back up. With fuel supplies stretched thin and gasoline inventories sinking, it’s looking like this summer […]
It is no secret that with Memorial Day comes one of the busiest travel seasons of the year. This year, Americans will experience a Memorial Day unlike any in recent memory as their travel will collide with gas prices that continue to rise. Today’s FUELSNews will give you a look into what Americans can expect […]
