This week headlines included Russia-Ukraine talks driving prices down at the beginning of the week, oil falling below $100 and what that means for gas, where Russian sanctions are hurting most, and the Fed approving an interest rate hike. Since the invasion, Russia has already agreed to allow safe zones for Ukrainian citizens; however, the […]
This morning oil prices are rising again, jumping up around 6% from yesterday after three straight days of losses. The International Energy Agency (IEA) warned of “the biggest supply crisis in decades” as Russian exports are set to drop by 3 million barrels per day next month. It’s a sign of recent volatility that diesel […]
Over the past two weeks, oil prices have collapsed to the lowest point in three months. While observers can clearly attribute bearish sentiment to the spread of the Delta variant, the fundamental supply/demand picture has not changed significantly. So, why the intense selloff this week? Today, we’ll explore two specific reasons why oil prices have […]
Prices continued recovering this week after crashing to $66/bbl last week. WTI crude opened at $72/bbl this week and continued climbing from there. Several supportive headlines for oil prices have kept prices from testing last week’s low. Federal Reserve Sees Positive Outlook. The Federal Reserve kept interest rates near zero on Wednesday, noting that the […]
On Wednesday, WTI crude closed slightly higher but is trading sideways in early trading this morning. Despite the resoundingly bullish EIA report yesterday, markets failed to rise above $40/bbl. The dollar strengthened for the fifth day in a row as US equities fell and investors fled to cash. Yesterday’s flight to cash was triggered by […]
Oil prices are up this morning, recovering some of yesterday’s losses. WTI Crude is trading at $58.93, a gain of 17 cents. Fuel is up in early trading this morning. Diesel is trading at $1.9416, a gain of 1.3 cents. Gasoline is trading at $1.6323, a gain of 0.6 cents. On Wednesday, crude prices fell […]
