Welcome to our continuing FUELSNews series: What Is It Wednesday. Each week, we’ll pick a fuel industry topic to explain, so you can learn more about the market and what drives it. Why do the decisions of one organization create ripples throughout oil markets, causing prices to double or halve over time? Well, when […]
This week is one to remember – oil prices have seen $2/bbl price moves nearly every day this week! Just look at diesel markets which crashed 8 cents lower on Tuesday, gained all of that back on Wednesday, then lost another 8 cents on Thursday. And today, it’s almost back where it started! Your neck […]
Oil price volatility continues this week, with huge up-and-down movements for oil prices each day. Yesterday, oil prices once again plummeted, approaching Tuesday’s low closing level. Some of the volatility is driven by the Suez Canal blockage. There are ships on both sides trying to pass through, and a surprise tanker delivery (or a decision […]
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 […]
