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 […]
The past month has brought intense scrutiny on global oil inventories. The primary goal of the OPEC-NOPEC oil production cuts is to bring inventories down to their five-year average levels. But the first six months of the cuts has made little progress toward this goal. The group extended the cuts, and OPEC has expressed confidence […]
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 […]
WTI crude prices have retreated to the $48.50-$48.75/b range this morning. Yesterday brought a rally that reclaimed the $50/b mark for a time, but prices subsided through closing, and they ended up down by $0.27 for the day. WTI opened at $49.65/b today, a decline of $0.28, or 0.56%, below yesterday’s opening price. Current prices […]
WTI crude prices have fallen back down into the $50.50-$51.00/b range this morning. WTI opened at $51.25/b today, a drop of $0.19, or 0.37%, below yesterday’s opening price. Current prices are $50.67/b, a continued fall of $0.69 below yesterday’s closing price. Crude and product prices rose and fell overnight, initially rising above closing levels then […]
