WTI Crude opened the week at $75.90. Prices were extremely volatile this week with crude reaching seven-year highs. Friday opened at $78.86, an increase of $2.96 from Monday. Diesel opened the week at $2.3826. Similar to crude, diesel was extremely volatile this week. It opened Friday at $2.4690, an increase of $0.0864 from Monday. Gasoline […]
This week saw major headlines for oil markets as crude hit a near three-year high on Monday, DEF prices exploded, and inventory reports showed rising crude stocks. Oil prices have risen over the past few weeks in the wake of two storms causing an estimated $40 billion in damages. On Monday, a peak of trading […]
This week saw news about what could be the coldest winter many of us have seen in quite some time. Last weekend Goldman Sachs released new information forecasting boosted oil demand this winter season, triggered by an expected colder winter in Europe and Asia. Because of a potential global increase in wholesale power and gas […]
WTI Crude opened the week at $69.74. Prices were extremely volatile this week with crude rising until Friday when it dropped again. Friday opened at $72.62, an increase of $2.88 from Monday. Diesel opened the week at $2.1436. Diesel followed a similar pattern as crude this week. It opened Friday at $2.2051 an increase of […]
This week saw major headlines for oil markets as Hurricane Ida efforts continue in much of Louisiana and Mississippi where power is still out for over 300,000 people. With refineries out and COVID-19 cases around the country continuing to increase, oil supply and demand have been clouded and look to remain that way for the […]
This week saw major headlines for oil markets as Hurricane Ida tore through parts of the southeast and up into the northeast, killing over 40 people. When the category four hurricane hit Louisiana, fuel markets were disrupted as it crushed through towns with winds of 150 mph. Over one million people in New Orleans were […]
WTI Crude opened the week at $67.71. Prices steadily dropped throughout the week falling Monday’s opening price. Crude opened Friday at $64.05, a decrease of $3.66 from Monday. Diesel opened the week at $2.0689. Similar to crude, diesel fell throughout the entire week. It opened Friday at $1.9642 a decrease of $0.1047 from Monday. Gasoline […]
This week saw major headlines for oil markets as the coronavirus continues to disrupt everyday life around the globe. On Monday we saw that fuel hit new multi-month lows as restrictions surrounding the new Delta variant continued to increase. This was accompanied by the sixth named storm of the 2021 Atlantic Hurricane Season, which is […]
Being the world’s second largest oil consumer, China is drawing attention as its factory activity continues to draw the wrong attention. Fears that the economic recovery in Asia is taking steps backward mean that this will undoubtedly affect supply and demand moving forward. Factory activity in China fell heavily in July to numbers not seen […]
Prices continued recovering this week after crashing to $66/bbl last week. WTI crude opened at $72/bbl this week and continued climbing from there. Several supportive headlines for oil prices have kept prices from testing last week’s low. Federal Reserve Sees Positive Outlook. The Federal Reserve kept interest rates near zero on Wednesday, noting that the […]
