While there was a larger-than-expected build in crude stocks reported by the API, there was a draw at Cushing which seems to be putting upward pressure on prices this morning. WTI Crude is trading at $55.66, a gain of 45 cents. Fuel is up in early trading this morning. Diesel is trading at $1.8743, a […]
U.S. oil futures mark lowest finish so far this month Oil futures fell on Tuesday, with U.S. prices settling at their lowest so far this month. A report from Reuters said Russia would likely commit to extend an existing pact to curb output at the early December meeting of the Organization of the Petroleum Exporting […]
Crude is down on negative trade sentiment. Crude prices continue to be lower this morning following negative sentiment out of China surrounding Trump’s comment that there was no agreement on phasing out tariffs. A Chinese government source was quoted by CNBC as saying there was “gloom” in Beijing about prospects for a trade compromise. Crude […]
Once again a large price swing is being negated this morning as markets are driven by headlines rather than fundamentals. Crude oil is trading at $56.76, down 96 cents (-1.7%) from Friday’s close. Fuel prices are taking a hit as well. Diesel prices are trading at $1.9018, down 4.6 cents (-2.4%). Gasoline prices are currently […]
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 […]
