Oil is up slightly this morning on bullish trade news. WTI Crude is trading at $54.00, a gain of 7 cents from yesterday’s close. Fuel is flat in morning trading. Diesel is trading at $1.9487, up fractionally. Gasoline is trading at $1.6276, up half a penny. Positive sentiment from the US and China helped to […]
Dilemma for Oil Refiners as Surging Ship Costs Kill Margins U.S. sanctions on Chinese shipping companies and Friday’s attack on an Iranian tanker have turbo-charged transport costs, with rates on the Persian Gulf to China route at almost six times this year’s average. Click here to read more from Bloomberg. Russia Aims To Ditch The […]
Prices are flat this morning as the specter of slower economic growth is weighed against potential OPEC cuts. WTI Crude is trading at $52.87, a gain of 6 cents. Fuel is mixed this morning. Diesel is trading at $1.9196, a gain of 1 cent. Gasoline is trading at $1.6081, a loss of 0.6 cents. On […]
Oil prices are trading lower this morning. Crude oil this morning is trading at $53.45, down $1.25. Fuel prices are also down this morning. Diesel is trading at $1.9260, down 3.2 cents. Gasoline is also trading lower at $1.6087, a loss of 3.0 cents. Crude prices are down Monday morning after Friday’s gains. On Friday, […]
The crude market was up for the week. The big driver for the week was positive sentiment around US-China trade talks. Some reports suggest that the Chinese would be willing to accept a partial trade deal with the US – possibly increasing annual purchases of agricultural products in order to secure an interim trade deal […]
Positive sentiment regarding trade seems to be lifting markets this morning as the US-China trade talks resume. WTI Crude is trading at $53.23, a gain of 64 cents. Fuel is up in early trading this morning. The EIA reported larger-than-expected draws in products and positive trade sentiment are helping to lift prices. Diesel is trading […]
Prices eked out small gains on Friday, halting the 8-day down streak, though barely. Over the weekend, sentiments shifted to a more positive outlook on the economy given US-China trade talks resuming and a possible rate cut from the Federal Reserve. This morning crude oil is trading at $53.53, up 72 cents (1.4%) from Friday’s […]
The Crude Market was down for the week. The week opened with news of continued diplomacy in the Middle East and a strong dollar, both of which put downward pressure on the markets. Poor manufacturing reports and general macroeconomic pessimism continued to drive markets lower through the week. The downward trend in equities spilled over […]
As traders refocus on macroeconomic fears, oil followed equities lower yesterday, extending the streak of crude oil price losses to seven days. EIA reports of a larger-than-expected build in crude put downward pressure on markets. WTI Crude is trading at $52.50, a loss of 14 cents. Fuel is mixed this morning. Diesel is trading at […]
Oil prices are getting a lift this morning, a break from the five-day down streak the market has experienced since last week. Crude oil is currently trading at $54.51, up 44 cents. Fuel prices are also moving a bit higher, though the switch to November futures contracts has gasoline trading a bit lower than October […]
