The Crude Market was down for the week. The market was up and down to start the week as it tried to figure out what to make of pessimistic trade news and OPEC’s jawboning to start the week. Traders seemed to latch onto bullish inventory news reported by the API late Wednesday of a surprise […]
World thirst for oil keeps growing, with SUVs a key culprit The world’s thirst for oil will continue to grow until the 2030s, with climate-damaging emissions climbing until at least 2040 — and consumers’ insatiable appetite for SUVs is a big reason why. Mounting demand for plastic is another factor. So is increasing plane travel. […]
Tired of the oil market rumor mill? Heard too much about China and OPEC? We feel you. Oil prices have been balanced within the $50-$60 range for months now, constantly driven one way or another by speculation regarding US-China trade and OPEC production targets. Nearly every headline on both issues become irrelevant within a week […]
Friday saw some bumpy trading action for oil markets, with oil prices slipping in the morning before rising again heading into the close. Weakened trade sentiments are weighing on oil this morning. Crude oil is currently trading at $56.45, down 79 cents from Friday’s close. Fuel prices are sinking lower as well after small losses […]
Positive trade news out of China late yesterday is driving markets higher this morning. WTI Crude is trading at $57.30, a gain of 95 cents. Fuel is up in early trading this morning. Diesel is trading at $1.9439, a gain of 1.6 cents. Gasoline is trading at $1.6394, a gain of 1.3 cents. On Wednesday, […]
A larger-than-expected build in crude stocks is putting downward pressure on prices this morning. WTI Crude is trading at $56.98, a loss of 25 cents. Fuel is down this morning. Diesel is trading at $1.9440, a loss of 1.3 cents. Gasoline is trading at $1.6573, a loss of 1.7 cents. On Tuesday, crude prices rose […]
Oil prices are continuing their upward trend this morning after gains weakened yesterday afternoon. Although prices launched nearly a dollar higher at points in the day, crude closed just 30 cents higher at the end of yesterday’s session. Today, crude oil is trading at $56.94, up 40 cents. Fuel prices also saw moderate gains yesterday, […]
A build at Cushing is putting downward pressure on prices this morning. WTI Crude is trading at $55.34, a loss of 20 cents. Fuel is mixed this morning. Diesel is trading at $1.9544, a fractional loss. Gasoline is trading at $1.6975, a gain of 1.2 cents. On Tuesday, crude prices fell after mixed news from […]
Oil prices fell yesterday following comments from Russia regarding future OPEC cuts. Still, positive sentiments on interest rates are buoying the market, providing a bit of support to cushion the drop. The Fed is expected to cut interest rates this week, lifting equity markets to near-record levels. Crude oil is currently trading at $54.83, down […]
Electric Vehicle Adoption Overshadowed by SUV Boom There are now 200 million SUVs on the roads globally, up from 35 million in 2010, according to data the International Energy Agency (IEA). In fact, 60 percent of the increase of the global vehicle fleet since 2010 came from SUVs. Click here to read more from OilPrice.com. […]
