WTI crude trading trends suggest a U.S. oil supply crunch as driving season nears A key price spread in the market for West Texas Intermediate crude is signaling that oil traders are bracing for a potential supply crunch just ahead of the busy summer driving season that sparks a demand surge. The June-July WTI time-spread, […]
After moderate gains early this morning, the oil complex is trading sideways to open the new week. Most indicators from the weekend suggest higher prices for the week. The US Dollar is creating tailwinds for oil; after rising to the highest level since July last week, USD losses this morning are propping up commodity markets. […]
Yesterday, the bottom fell out of WTI Crude prices unlike ever before. Prices opened substantially lower, fell to the $.01 bargain bin, then crossed the fateful line into negative territory. But before you assume that fuel suppliers will start paying you to take their diesel and gasoline away, it’s essential to understand why the drop […]
The crude market was down for the week and continues its downward trend in early trading this morning. The major news moving markets this week was all about the coronavirus and its rapid spread outside of China. South Korea, Iran, Italy and Japan among others, are all taking major steps to slow the spread of […]
WTI crude prices have retreated to approximately $48.50/b this morning. WTI opened at $48.93/b today, an increase of $0.70, or 1.45%, above yesterday’s opening price. Current prices are $48.52/b, $0.55 below yesterday’s closing price. Prices yesterday opened weakly, but they rose upon a favorable set of supply and inventory data. However, both crude and product […]
WTI crude prices have jumped to the neighborhood of $49.50/b this morning. Last week, prices surged on Wednesday and stabilized on Thursday and Friday. WTI opened at $47.85/b today, an increase of $0.04, or 0.08%, above Friday’s opening price. Current WTI prices are $49.41/b, a major jump of $1.57 from Friday’s closing price. Product prices […]
WTI crude prices have surged to $48/b this morning. WTI opened at $47.39/b today, a strong recovery of $1.21, or 2.62%, above yesterday’s opening price. Current prices are $48.00/b, an increase of $0.67 above yesterday’s closing price. Product prices also rose strongly yesterday and this morning. Diesel opened at $1.4765/gallon in today’s trading session. This […]
WTI crude prices are in the range of $46.25-$46.50/b this morning. WTI opened at $46.18/b today, a drop of $0.31, or 0.67%, below yesterday’s opening price. Current prices are $46.33/b, an increase of $0.45 above yesterday’s closing price. WTI crude prices had opened slightly higher on Monday and Tuesday, but prices ebbed yesterday before buying […]
WTI crude prices remain in the range of $46.00-$46.50/b this morning. WTI opened at $46.49/b today, an increase of $0.14, or 0.30%, above yesterday’s opening price. Current prices are $46.36/b, $0.07 below yesterday’s closing price. WTI crude prices have opened slightly higher for the past two trading sessions. Product prices also have risen in the […]
WTI crude prices are slightly above $46/b this morning. Friday brought a price rally after two steep price collapses last week. WTI opened at $46.35/b today, up $0.84, or 1.85%, above Friday’s opening price. Current WTI prices are $46.10/b, down $0.12 below Friday’s closing price. Last week ended nearly $3/b in the red despite Friday’s […]
