The oil complex remains flat this morning following last Wednesday’s $3/bbl rally; WTI crude has traded close to the $63/bbl level for four consecutive sessions. Gasoline remains above $2/gal, while diesel prices are hovering around $1.89. COVID cases continue falling in the US but rising elsewhere, keeping markets in limbo until vaccine programs gain traction […]
WTI crude closed relatively flat yesterday even in the face of bearish inventory news reported by the EIA. A massive increase in crude stocks could not dampen the optimism generated by the beginning of the rollout of the coronavirus vaccine to the public. Crude is up in early trading this morning as vaccine optimism continues. […]
Oil prices are moving quietly higher after posting the second consecutive weekly gain on Friday. This morning, Saudi Arabia announced plans to unilaterally cut production by an additional 1 MMbpd beyond their committed cuts, which is giving markets some strength. The additional cuts will bring Saudi Arabia’s output to just 7.5 MMbpd, a huge cut […]
Crude is up on recent positive trade sentiment. Crude is currently trading at $55.40, a gain of 39 cents. Fuel prices are up in line with crude. Diesel is trading at $1.9583, a gain of 1.4 cents. Gasoline is trading at $1.6887, a gain of 1.4 cents. A strike at Canada’s largest rail carrier entered […]
Owners of the Alliance pipeline, one of the longest natural gas pipelines in North America, are in the early stages of assessing interest in expanding its capacity to transport natural gas from western Canada to Chicago, Illinois. The Alliance pipeline is unique because, unlike other natural gas pipelines that only transport natural gas after it […]
