After a weak opening this morning, oil prices have turned and are moving higher in response to instability in Syria and US-Turkey relations. Falling as low as $52.40 this morning, crude prices regained some ground to trade at $53.21, still 38 cents below yesterday’s closing price. Fuel prices are trading flat as crude markets fluctuate. […]
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, […]
Supply in the U.S. has been improving significantly over the past few days. Today, Mansfield moves diesel in the Southeast (excluding Georgia) to Code Green, indicating a return to normal supply levels. Gasoline supply in the southeast remains on Code Orange, as high retail demand has continued to put pressure on supply and price indexes. […]
Colonial Pipeline Re-Opening Date Slips The Colonial Pipeline remains offline west of Louisiana, missing the Sunday night target for restarting the Houston to Louisiana segment of the pipeline. According to their latest update, the pipeline expects the diesel line to resume operations Monday, and the gasoline segment will resume on Tuesday. Refining capacity shut down by Harvey […]
Terminal Truck Lines Delay Deliveries While we’re at the very early stages of normalizing fuel supply, one of the largest concerns currently hindering quick deliveries in Texas, Louisiana, and certain Southeast markets is long lines at terminal racks. For every major market (Atlanta, Dallas, Houston, etc), fuel trucks fill up at a select few terminals, […]
Hurricane Harvey (still categorized as a Tropical Depression at the time of writing) brought record-level rainfalls to East Texas and West Louisiana, causing flooding and destruction throughout the Gulf Coast. Cumulative rain falls surpassed 50 inches in some area, the most rain ever received from a tropical cyclone system in the Lower 48 states. Because […]
After plummeting $1.50 on Friday, crude prices are up slightly to $45.99 this morning, a gain of 22 cents over Friday’s close. Markets fell dramatically ahead of OPEC’s meeting this weekend as markets expected no constructive announcements. Prices opened at $45.62, nearly $1.30 (2.8%) below Friday’s opening price of $46.91. Diesel price and gasoline prices […]
Crude prices this morning are $46.66, rising slightly higher since yesterday. Prices fell throughout the day yesterday, closing at $46.02, but prices have risen 1.3% to its current level. Prices opened the day at $45.99, and have gained $.67 throughout the morning. Diesel prices are $1.5163, a gain of $.0168 since yesterday. Prices opened exactly […]
Oil prices declined significantly this week, for the second week in a row. Many traders had hoped for a more dramatic outcome from the May 25th OPEC-NOPEC meeting, and prices began to falter when the group stayed with the original idea of appending an extension to the existing production cut agreement. This week, the supply-demand […]
Oil prices declined significantly this week. Prices had surged in the lead-up to May 25’s OPEC meeting. The meeting concluded with a nine-month extension to the existing production cut agreement, yet the market apparently had wished for deeper and more immediate cuts. WTI is back below the $47.50/b level, and has fallen below $47/b this […]
