By Dr. Nancy Yamaguchi Oil prices opened at a very strong $53.75 on Monday, but this was followed by a sharp downward correction. WTI prices shed 5.5% over the next two days, opening at $50.81/b on Wednesday. Some observers believed that the sell-off was an expected downward correction, getting prices back down into the $51-$52 […]
Analysis by Dr. Nancy Yamaguchi WTI crude prices made a comeback yesterday after a two-session slump, and they are strengthening again this morning. WTI opened at $52.37/b today, $1.56/b above yesterday’s opening price. Prices flattened overnight and are trending up again this morning. WTI prices are $52.96/b currently, $0.71 above yesterday’s close. Product prices followed […]
Source: EIA Short-Term Energy Outlook The U.S. Energy Information Administration’s (EIA) January Short-Term Energy Outlook (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. Average forecast prices rise to $56/b and […]
Analysis by Dr. Nancy Yamaguchi WTI crude prices saw a sharp downward correction yesterday. As noted in yesterday’s FUELSNews, prices had a difficult time clinging to $52/b. But in a surprising move, prices have continued down, crashing even below $51/b. WTI opened at $50.81/b today, $1.02/b below yesterday’s opening price, and the lowest opening price […]
Analysis by Dr. Nancy Yamaguchi The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended January 9th, 2017. Both gasoline and diesel prices continued to rise, marking the sixth consecutive week of price hikes following the November 30th OPEC meeting. A variety of refinery issues caused […]
Analysis by Dr. Nancy Yamaguchi WTI crude prices continued to slide yesterday, and prices are having a difficult time clinging to $52/b this morning. WTI opened at $51.83/b today, $1.92/b below yesterday’s opening price, and the lowest opening price since December 16th. Current prices are $52.07/b, $0.11 above yesterday’s close. Product prices also dropped steeply, […]
Analysis by Martin Trotter The first storage report of the new year painted a vastly different picture than the reports produced at the end of 2016. Compared with recent large withdrawals around 200 bcf, last week’s report appeared small – just 49 bcf versus an expected 80 bcf withdrawal. Additional supply in the marketplace now […]
Analysis by Dr. Nancy Yamaguchi WTI crude prices fell steeply this morning, and are currently below $53/b. WTI opened at $53.75/b today, two cents above Friday’s opening price. Friday’s market closed at $53.99/b. Prices have fallen steeply since then. Current prices are $52.91/b, $1.08 below Friday’s close. Product prices have dropped, following crude prices. The […]
Analysis by Dr. Nancy Yamaguchi and Mansfield Supply Colonial Pipeline announced Sunday that it had closed the Line 19 gasoline line near Chattanooga, Tennessee, because of a suspected gasoline leak. An odor of gasoline was reported to the Chattanooga Fire Department. Although Colonial believed that the leak was a small one, it had not located […]
Analysis by Dr. Nancy Yamaguchi WTI crude prices have hopped back above $54/b this morning. WTI opened at $53.73/b today, an increase of $0.34, or 0.64%, from yesterday’s opening price. During this 4-day holiday week, prices spiked and collapsed on Tuesday, and spent the rest of the week creeping back up. Current prices are $54.12/b, […]
