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 […]
Oil prices are trading significantly lower after yesterday’s rout, during which crude prices went crashing through the $65 price threshold, closing the day at $63.69, the lowest level since April. Today, crude oil is trading at $63.14, down 55 cents. Fuel prices took a big hit yesterday. Gasoline prices gave up 5 cents, while diesel […]
Markets are thankful to be out of October – a month that generally brings poor results and seasonal weakness (think 1989’s Black Friday, or 1929’s Black Tuesday). Although there’s no particular reason for the bearishness, October tends to bring poor financial results. As we shared yesterday, the “Halloween Effect” shows that prices often fall between […]
Despite a supportive EIA report, markets just couldn’t stop the downward push, leading to an afternoon decline yesterday that brought prices just shy of dropping below $65. This is now the third time prices have risen above $70 and fallen back to the $65 range. This morning crude is trading at $64.93, down another 38 […]
Crude prices are down this morning to $46.54, 38 cents off from yesterday’s close. Like most days this week, prices yesterday saw a midday peak, followed by declining prices. Prices opened at $46.91 this morning, almost 20 cents down from yesterday’s opening price. Refined products are down as well this morning. Diesel prices are $1.5265, […]
After what seems like it would be a positive week, crude prices appear set to post a slight loss for the week. Prices opened Monday morning at $46.68, and are currently $46.54. Prices fluctuated from a low of $45.81 on Tuesday to a high of $47.55 on Thursday, a range of almost $1.75. Compare this […]
Crude prices this morning are $46.43, up slightly this morning from today’s opening price of $46.25. Prices rose gently yesterday, rapidly gaining $.75 but shedding $.50 before closing, to give a gain of roughly $.25 off the morning lows in the high $45’s. Prices are just .06% higher than yesterday’s closing price. Diesel price are […]
Crude prices this morning are $43.85, down $.38 (2.1%) from yesterday’s close of $44.23. Crude opened this morning at $44.35, a full $1 below Friday’s open. Diesel price are $1.4384, with a loss of $.0098 from yesterday’s close. Prices opened this morning at $1.4512, roughly $.025 below yesterday’s open. Gasoline prices are $1.4809, losing $.0175 […]
Crude prices are currently $45.88/bbl this morning, down 2.5% from yesterday’s opening price of $47.04/bbl. Yesterday’s price movement ended the 8-day streak of rising prices. Prices opened this morning at $45.65/bbl, slightly higher than yesterday’s close of $45.13/bbl. Diesel prices are $1.4960 this morning, up $.0173 (1.2%) from yesterday’s close of $1.4785. Prices opened this […]
After rising to over $47 on Monday, crude prices have fallen back to $46.55 this morning. Last Friday, crude prices rose over a dollar, from an opening price of $44.89 to a close of $46.04. Monday continued the gains, and prices closed at $47.07. Today, prices are slipping lower on a lack of fundamental news, […]
