All crude oil is not made equal. Virtually every producing country has its own unique blend of crude that it trades – from Western Canadian Select to Saudi Arabia’s Arab Extra Light. They each have their own unique price based on quality, geography, and availability. Among all the crude contracts of the world, two stand […]
This morning crude prices are up as the news of a potential ban of Russian oil by the EU makes its way through markets. Today WTI crude is at $109.05, with diesel at $3.7797 and gasoline at $3.3461. After recent events in eastern Europe, the European Union nations will decide in the coming days whether […]
This morning oil prices rose as crude inventory levels in the U.S. fell once again. The EIA reported a 3.2 million barrel (MMbbl) draw, double the expected 3.2 MMbbl draw. Gasoline inventories were also expected to take a hit, but surprised with a 0.7 MMbbl gain. Diesel also surprised, but with a steep 2.7 MMbbl […]
Last week, WTI Crude finished sharply lower on multiple triggers including bearish inventory news and the return of Libyan supply to the market. The market is continuing its losses in early trading this morning ahead of tomorrow’s election. Uncertainty around the election and fears of a second recession due to the second wave of coronavirus […]
Yesterday, WTI crude closed the day marginally higher. Prices are up in early trading this morning on news from the European Union of a 750 billion euro ($859 billion) fund to assist EU economies hurt by the coronavirus. The unprecedented deal allows the European Commission to raise billions of euros on capital markets on behalf […]
Yesterday, crude oil began lower but rallied somewhat in the afternoon on news of improved sentiment in broader financial markets after the reported death tolls in some of the virus hotspots in Europe showed signs of easing. Crude is moving higher in early trading this morning on signs the world’s biggest producers are moving toward […]
In Asia, Europe, and the Middle East hundreds of new cases of the coronavirus, COVID-19, have been reported. The virus has been found in about 30 countries. In the US, the Center for Disease Control warned of the inevitable outbreak of the virus. The organization is preparing for “severe” disruptions to daily life in the […]
Rising crude stocks are putting downward pressure on prices this morning. WTI Crude is trading at $52.95, a loss of 41 cents. Fuel is down this morning. Diesel is trading at $1.9296, a loss of 1.3 cents. Gasoline is trading at $1.6069, a loss of 1.8 cents. On Wednesday, crude prices rose on news from […]
