Amid high optimism on US-China trade talk progress, markets are seeing a large upswing this afternoon. Crude oil is currently trading at $53.80. Fuel prices are taking part in the rally as well, with both diesel and gasoline prices rising to multi-week highs. Diesel prices are currently trading at $1.9184, up 3.4 cents. Gasoline prices […]
After some early morning losses, oil markets turned around yesterday despite a bearish oil market report showing net builds in oil products. Crude oil this morning is currently $51.47, down 84 cents from yesterday’s close. Fuel prices are down this morning with diesel trading at $1.8685, down 2.6 cents. Gasoline is also trading lower this […]
After closing above $52/bbl yesterday, WTI crude prices are dipping a bit lower this morning. The rally that brought prices from $45/bbl to $50/bbl appears to be waiting for fresh news to propel the market higher. This morning as the market awaits such news, crude oil prices are trading at $51.55, down 56 cents from […]
Mansfield is hosting a webinar at 1PM EST to review Q4 and provide a 2019 oil price outlook. If you’d like to hear more about the trends below, Click Here to register. Oil prices are rallying strongly this morning after yesterday’s large losses. Yesterday’s $1/bbl losses were likely profit-taking after some hefty gains recently, and […]
One week into 2019, oil prices are rising rapidly. WTI picked up $1.25 yesterday, bring total gains since Jan 2 to $5.40 as of this morning. WTI crude is currently trading at $51.20, up $1.42 (2.6%) from yesterday’s close. Fuel prices are keeping track, with gasoline briefly surpassing the $1.40 threshold for the first time […]
Oil prices are sustaining gains this morning, knocking on the $50/bbl ceiling that has capped oil prices for the past few weeks. Crude oil is trading at $49.05 this morning, up 53 cents as the 7-day streak of gains appears to be holding. Fuel prices are also up this morning, with diesel above $1.80 for […]
Oil prices are gathering steam this morning, though given recent volatility it’s well within the realm of possibility that prices revert lower again. Crude oil is currently trading at $67.52, up 70 cents from yesterday’s close. Fuel prices are mixed this morning, with extremely high gasoline production weighing on gas prices while diesel trades in […]
Another huge loss for oil prices yesterday, with crude falling nearly $3/bbl (4%) at the end of the day in response to the API’s reported crude build. Markets have been taking a huge hit as crudes stocks return to seasonal trends. Last year, crude stocks declined during the fall despite lower refinery utilization of that […]
Today brings another steep sell-off in the petroleum complex, with across-the-board losses for oil products accompanying a broader financial sell-off that began in China’s stock market. Crude oil is currently trading at $67.40, down $1.96 (-2.8%). Fuel prices are also taking a big hit this morning after mixed trading yesterday. Diesel prices are currently $2.2768, […]
Market-altering news was light over the weekend – although there’s still a bit of unresolved anxiety related to the death of journalist Jamal Khashoggi, which will likely fizzle out with time. Crude oil eked out some small gains on Friday but failed to re-take $70/bbl ground. Markets are anxious to see whether prices will regain […]
