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, […]
By Dr. Nancy Yamaguchi Oil prices surged on Tuesday. As the markets opened following the New Year’s holiday, prices hit levels that have not been seen for a year and a half. On Tuesday, WTI opened at $54.20/b. WTI spiked above $55/b for a time before a sell-off caused prices to collapse to a close […]
Analysis by Alan Apthorp Temperatures in the middle of the U.S. have reached zero and sub-zero temperatures this week, with especially severe weather in the Northern Plains. Wind chill in the North is pushing temperatures to the -20 to -40 range. Several states have received snow and are experiencing high winds, shutting down travel. While […]
Analysis by Dr. Nancy Yamaguchi WTI prices strengthened yesterday, closing at $53.26/b. Today’s opening price was $53.39/b. Prices have continued to strengthen, and are currently $53.66/b, $0.40 above yesterday’s close. Strength was lent to crude prices by a Bloomberg News survey showing that OPEC production fell by 310,000 bpd in December. However, the planned OPEC […]
Source: Energy Information Administration. Principal contributor: Matthew French Crude oil prices ended the year above $50 per barrel (b). Although the annual average West Texas Intermediate (WTI) crude oil price in 2016 was $43/b—down $5/b from 2015—the WTI price ended 2016 at $53/b, $16/b higher than at the end of 2015. Similarly, Brent ended the […]
Analysis by Dr. Nancy Yamaguchi WTI prices collapsed after spiking as high as $55.24/b yesterday. WTI opened at $52.49/b today, a drop of $1.71, or 3.15%, from yesterday’s opening price. Prices are currently $52.65/b, $0.16 above the market opening value. WTI prices had not closed above $55/b since the first week of July in 2015, […]
