Markets are continuing to see buoyancy as financial markets hit all-time high levels in intraday trading last week, while crude oil prices continued their strong uptrend. Markets have slowed a bit to trading flat this morning. Crude is currently trading at $57.36, up a meager 7 cents. Fuel prices are also rising this morning. Diesel […]
Yesterday marked the largest rally for crude oil this year, with WTI crude surging almost $3/bbl after Iran shot down a US drone. This morning markets remain energized, with fuel leading the way higher. Crude is only mildly up, trading 18 cents higher at $57.25. Fuel prices are being rocked by refinery issues this morning, […]
For the week, the Crude Market was up. It started out Monday down on generally little news but with the overall global economic slump weighing on the market. Tuesday saw an uptick on the news of renewed hope for a trade deal with China, with a meeting scheduled during the G-20 Summit. By mid-week we […]
Oil is trading sharply higher as geopolitical unrest continues escalating in the Middle East. Crude oil is trading at $55.98, a quick increase of $2.22 (4.1%). Fuel prices are following crude higher. Diesel is trading at $1.9759, up 4.7 cents (2.5%) from yesterday’s close. Gasoline is $1.7694, up 3.4 cents (2.0%) Markets are awash with […]
After crude prices picked up $2/bbl yesterday, markets are cooling off and awaiting EIA data later this morning. Crude oil this morning is currently trading at $53.57, down 33 cents. Fuel prices are also taking a breather after both products saw roughly 3 cent gains. Diesel is trading this morning at $1.8224, down half a […]
Oil Prices Jump on Hopes of End to U.S.-China Trade War Oil prices erased earlier losses and surged on Tuesday morning after U.S. President Donald Trump said that he would meet his Chinese counterpart next week to discuss the ongoing trade dispute, lending hope to the oil market that talks will resume after weeks of […]
Oil markets, along with equities, are leaping higher this morning following positive trade news. Driven by a larger market surge, crude oil is currently trading at $53.88, up $1.95 (+3.8%). Fuel prices are also getting a lift. Diesel prices are trading at $1.8301, a 3.1 cent increase (+1.7%). Gasoline prices are $1.7229, up 3.2 cents […]
Markets continue trading within their relatively low range, with crude still drifting between $51 and $53. The weekend was light on fundamental market changes, leaving traders to continue speculating over economic concerns and OPEC cuts. Crude oil is trading at $52.27 currently, down a small 24 cents. Fuel prices are also dipping lower today. Diesel […]
Today markets continue rising as the market grapples with the implications of the oil tanker attack in the Gulf of Oman. Crude picked up just over a dollar yesterday on geopolitical concerns. WTI Crude is trading at $52.74 currently, up an additional 46 cents. Fuel prices received a similar lift yesterday. Diesel is trading at […]
My last editorial, dated May 17th, was either about tea leaves or the market needing to take a breather. Either way, since that date the crack spread declined $2.5/bbl, WTI declined over $10/bbl and ULSD futures tumbled $.30/gal. In that article, I highlighted the fact that refinery utilization was seasonally behind due to turnarounds. Throughput […]
