Crude markets saw some small gains yesterday, boosted by an API report showing a 6.4 million barrel stock draw, far more than market expectations. Crude prices gained 45 cents yesterday, rising steadily higher throughout the day after a down day on Monday. This morning, crude oil prices opened with a bang, jumping 29 cents overnight […]
After moderate losses yesterday, oil markets are heading towards higher ground. Oil prices yesterday gave up 60 cents, a notable -1%, as the December contract expired, showing that markets lack confidence in physical supply tightness next month. The contract now rolls over to January, which traded 33 cents higher at last night’s close. Prices are […]
Have an article worth sharing? Send it to FUELSNews@mansfieldoil.com, and we’ll share it next week in our Weekly Summary segment. Gas Shortage Shifts from Texas to Florida “We were long-hauling from Florida to Houston last week, and now we’re talking about going from Houston to Florida,” said Andy Milton, senior vice president of supply for […]
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 […]
Have an article worth sharing? Send it to FUELSNews@mansfieldoil.com, and we’ll share it next week in our Weekly Summary segment. Venezuela instability threatens oil prices “We may be about to see the first sovereign producer to unequivocally fail.” This quote from Helima Crodt, head of commodity strategy at RBC Capital Markets, summarizes the situation in […]
Members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $433 billion in net oil export revenues in 2016, the lowest since 2004. In real dollar terms, the 2016 revenue represents a 15% decline from the $509 billion earned in 2015, mainly because of the fall in average annual crude oil prices and, […]
WTI crude prices are in the $53.50/b-$54.00/b range this morning. Prices yesterday were above $54/b for a time, but the market closed at $53.54/b. WTI opened at $53.68/b today, an increase of $0.11 from yesterday’s opening price. Current prices are steady at $53.66/b, $0.12 above yesterday’s close. Product prices have weakened. OPEC’s production cuts are […]
Analysis by Dr. Nancy Yamaguchi WTI crude prices are easing back down into the $53.50/b neighborhood this morning. Yesterday’s price rally was stronger and more sustained than expected, with WTI rising above $54/b. WTI opened at $53.74/b today, a jump of $0.78 from yesterday’s opening price. Current prices are $53.51/b, $0.27 below yesterday’s close. Product […]
Analysis by Dr. Nancy Yamaguchi WTI crude prices have risen above $53/b this morning. WTI opened at $52.55/b today, a drop of $0.50, or 0.94%, from Friday’s opening price. Last week, WTI closed in the red, dropping from $53.75 at Monday’s opening to $52.37 at Friday’s close. Current prices are $53.20/b, $0.83 above Friday’s close. […]
Analysis by Dr. Nancy Yamaguchi WTI crude prices are in the $52.00/b-$52.50/b range this morning. WTI opened at $52.55/b today, a drop of $0.50, or 0.94%, from Friday’s opening price. Last week, WTI closed in the red, dropping from $53.75 at Monday’s opening to $52.37 at Friday’s close. Current prices are $52.51/b, $0.03 below opening. […]
