Oil prices are lower early Monday amid profit taking from last week’s gains. Crude oil is currently trading at $58.41, down 79 cents. Fuel is also down this morning. Diesel is trading at $1.9278, a loss of 2.4 cents. Gasoline is also lower, trading at $1.6289, down 1.9 cents. On Friday, crude prices rose following […]
Oil prices ended yesterday at exactly the same level they began on quiet news. This morning, a surprise announcement from OPEC indicates the group will seek to cut oil production by 1.7 MMbpd in Q1 2020, an additional 500 kbpd beyond current production cut levels. Crude markets are reacting with large gains, with crude oil […]
The Crude Market was up for the week. The market was flat to start the week as it weighed major losses last Friday. Mid-week reports from the API and EIA printed bullish inventory number which, along with OPEC rumors of supply cuts, helped drive markets higher to close the week. The markets are up in […]
OPEC rumors and bullish inventory news are lifting the markets. WTI Crude is trading at $58.83, a gain of 40 cents. Fuel is up in early trading this morning. Diesel is trading at $1.9373, a gain of 1.4 cents. Gasoline is trading at $1.6228, a gain of 1.9 cents. On Wednesday, crude prices rose more […]
A larger-than-expected draw reported by the API seems to be putting upward pressure on crude markets this morning. WTI Crude is trading at $57.15, a gain of $1.05. Fuel is up in early trading this morning. Diesel is trading at $1.9144, a gain of 3.5 cents. Gasoline is trading at $1.1.5934, a gain of a […]
India Could See Real Growth in Oil Demand Next Year Next year is expected to be a turnaround for oil demand in India, according to a new study by S&P Global Platts Analytics. With weakened demand caused by an economic slowdown, a slump in new vehicle sales, and flooding during monsoon season, the growth number […]
Crude is down in early trading this morning. News of deeper OPEC supply cuts seem to be offset by weak manufacturing data coming from the US. Crude is currently trading at $55.55, a loss of 41 cents. Fuel prices are down in line with crude. Diesel is trading at $1.8747, a loss of 1.1 cents. […]
The turkey hangover seeped into markets on Friday, bringing the largest price drop since October. WTI crude gave up just shy of $3/bbl, falling from over $58/bbl to just above $55/bbl. This morning, prices are rallying back once again. Crude oil is trading at $56.39, up $1.22 cents. Fuel prices also crashed lower, with diesel […]
Oil Drillers Continue to Remove Rigs from Permian Basin In its weekly release, Baker Hughes Company BKR reported a drop in U.S. rig count. Baker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. Click here to read […]
Happy Thanksgiving! Markets will be closed tomorrow in observation of the holiday. FUELSNews production will resume on Monday, December 2. It’s a quiet trading day heading into the holiday weekend. Trump’s announcement yesterday that a trade deal is close was counteracted by weak inventory data. The oil complex is trading flat for the day as […]
