The crude market was up for the week. It started the week on an upward trajectory on trade news details. By mid-week easing trade tensions and macroeconomic news continued to drive markets higher. EIA inventory numbers were also bullish when compared to the API numbers and those numbers and positive trade sentiment helped to lift […]
Yesterday brought another round of buying, pushing crude oil to close above $61/bbl. Today, prices are fading slightly, with markets slowing heading into a holiday week. Crude oil prices are currently $60.79, down 39 cents. Unlike crude, fuel prices are slightly higher this morning. Diesel prices are trading at $2.0392, up roughly a penny from […]
Oil prices are relatively unchanged this morning. WTI Crude is trading at $60.91, a loss of 2 cents. Fuel is up in early trading this morning. Diesel is trading at $2.0225, a gain of 0.2 cents. Gasoline is trading at $1.6930, a gain of 0.9 cents. On Wednesday, crude prices closed flat after trading lower […]
The crude market was up for the week. It started the week relatively unchanged on little news, but as mid-week came around, the markets fell on bearish inventory numbers. On Wednesday, prices recovered from session lows on positive trade sentiment and the markets closed the week higher on news of a phase one trade deal […]
Yesterday morning brought an oil price surge as Trump tweeted that the US and China were on the cusp of finalizing a major trade deal. WTI crude briefly touched $60/bbl this morning, the highest price since the Saudi oil attack in September. Currently, crude prices are trading at $59.36, up 18 cents from yesterday’s close […]
The U.S. Dominates New Oil and Gas Production Since fracking took off in 2008, we have more than doubled our proven oil reserves to ~65 billion barrels. Natural gas reserves have surged over 80% to ~430 trillion cubic feet. Already the largest oil and gas producer, the U.S. is set to increase its share of […]
A surprise build reported by the API seems to be putting downward pressure on crude markets this morning. WTI Crude is trading at $58.96, a loss of 28 cents. Fuel is down in early trading this morning. Diesel is trading at $1.9454, a loss of 2.0 cents. Gasoline is trading at $1.6427, a loss of […]
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 […]
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 […]
