August 11, 2022 U.S. Natgas Futures Up 2% on Output Drop, Forecast for More Demand U.S. natural gas futures rose about 2% on Tuesday on a preliminary drop in daily output and forecasts for more demand this week than previously expected due to an increase in pipeline exports to Mexico. That price increase came despite […]
The numbers are in, and GDP fell -0.9% in Q2, marking the second straight quarter of contraction. In Q1, the economy contracted by -1.6%. The typical definition of a recession is two consecutive quarters of negative growth, although there’s a variety of other statistics that play into the official declaration of a recession. Many years […]
This week saw yet another selloff in fuel markets, echoing last week’s drop and recovery pattern. Like last week, prices are rising once again on Friday. This time around, though, crude oil has not quite recovered the $100/bbl mark. This week brought news that inflation has climbed to 9.1% year-over-year, the highest reading in decades. […]
This week headlines included Russia-Ukraine talks driving prices down at the beginning of the week, oil falling below $100 and what that means for gas, where Russian sanctions are hurting most, and the Fed approving an interest rate hike. Since the invasion, Russia has already agreed to allow safe zones for Ukrainian citizens; however, the […]
Oil prices are up this morning, recovering some of yesterday’s losses. WTI Crude is trading at $58.93, a gain of 17 cents. Fuel is up in early trading this morning. Diesel is trading at $1.9416, a gain of 1.3 cents. Gasoline is trading at $1.6323, a gain of 0.6 cents. On Wednesday, crude prices fell […]
U.S. oil futures mark lowest finish so far this month Oil futures fell on Tuesday, with U.S. prices settling at their lowest so far this month. A report from Reuters said Russia would likely commit to extend an existing pact to curb output at the early December meeting of the Organization of the Petroleum Exporting […]
A surprise draw in crude stocks is putting upward pressure on prices this morning. WTI Crude is trading at $57.55 a gain of 43 cents. Fuel is up this morning. Diesel is trading at $1.9345, a gain of 2.2 cents. Gasoline is trading at $1.6456, a gain of 0.9 cents. Crude prices rose after the […]
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 […]
The Crude Market was up for the week. The week started with positive comments from China regarding trade talks which helped to lift the market. However, by mid-week, inventory news was the major headline driving markets. On Wednesday, the EIA reported a surprise crude draw of 1.7 MMbbls versus expectations of a crude build of […]
The market is trying to continue yesterday’s bull run that was based on a surprise draw. WTI Crude is trading at $56.09, a gain of 12 cents. Fuel is flat in early trading this morning. Diesel is trading at $1.9664, a fractional gain. Gasoline is trading at $1.6524, also a fractional gain. On Wednesday, markets […]
