Crude prices are down this morning to $49.45/bbl, after briefly surpassing $50/bbl in early morning trading. Prices are off .26 (.5%) from Friday’s close. Prices closed the day Friday at $49.71, a gain of $.54 (1.1%) from the opening price. Prices have been on shaky ground this morning, awaiting[…]
After weeks of upward momentum that could only be described as a non-starter, oil prices a firmly higher this week, drawing strength from the EIA’s impressive inventory report on Wednesday and strengthening fundamentals.
Crude prices are $48.46/bbl this morning, lacking strong directionality following yesterday’s nearly flat trading. Prices rose a mere $.24, or .49%, following the release of the EIA data, which was decidedly less bullish for crude prices than Tuesday’s API report. Still, yesterday’s report[…]
The U.S. Energy Information Administration (EIA) has released its 2017 World Oil Transit Chokepoints report highlighting chokepoints that are part of major trade routes for global seaborne oil transportation (Figure 1). Chokepoints are narrow channels along widely used global sea routes for oil[…]
Crude prices are up this morning at $48.40, gaining $.51 (1.06%) since closing yesterday. Prices soared higher yesterday in repose to the API inventory report, posting their largest percentage gain (3.08%) of the year, and the second largest absolute price gain ($1.43). Prices this morning are[…]
In EIA’s latest Short-Term Energy Outlook (STEO), total U.S. crude oil production is forecast to average 9.3 million barrels per day (b/d) in 2017, up 0.5 million b/d from 2016. In 2018, EIA expects crude oil production to reach an average of 9.9 million b/d, which would surpass the previous record[…]
The EIA released its weekly retail gasoline and diesel prices yesterday. Prices for both gasoline and diesel were higher across the board for the week ended July 24. NYMEX prices, which set the tone for wholesale prices nationally and, ultimately, retail prices, rose over 5% during the week before[…]
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[…]
Crude prices are down this morning to $46.54, 38 cents off from yesterday’s close. Like most days this week, prices yesterday saw a midday peak, followed by declining prices. Prices opened at $46.91 this morning, almost 20 cents down from yesterday’s opening price.
After what seems like it would be a positive week, crude prices appear set to post a slight loss for the week. Prices opened Monday morning at $46.68, and are currently $46.54. Prices fluctuated from a low of $45.81 on Tuesday to a high of $47.55 on Thursday, a range of almost $1.75. Compare this[…]
Crude prices are $47.45/bbl this morning, soaring higher yesterday following the EIA’s report of across-the-board stock draws (more below). Prices reached a high yesterday of $47.60, closing the day at $47.12. Prices opened this morning at $47.09/bbl, and have been rising this morning. Today’s[…]
Oil prices recently have received much support from a falling U.S. Dollar. Because oil prices internationally are denominated in the dollar, changes in currency values can significantly alter global energy prices. Traditionally, the two values have had an inverse relationship – when the dollar[…]
Crude prices this morning are $46.43, up slightly this morning from today’s opening price of $46.25. Prices rose gently yesterday, rapidly gaining $.75 but shedding $.50 before closing, to give a gain of roughly $.25 off the morning lows in the high $45’s. Prices are just .06% higher than[…]
Editor’s Note: The Fuels Institute recently published an in-depth analysis on the future of vehicles sales in the U.S., along with how those trends will affect energy markets. Click one of the below links to download the full analysis. Below, we’ve shared the Executive Brief
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.
The EIA released its weekly retail gasoline and diesel prices yesterday. Prices were mixed, with diesel prices mostly rising and gasoline prices falling. Given the precipitous rise in NYMEX prices for both wholesale and gasoline, the mixed results are somewhat surprising. NYMEX gasoline (RBOB) saw[…]
Crude prices are down slightly to $46.50 this morning, losing a minor 4 cents this morning. Prices opened this morning 60 cents higher than Friday’s opening price. Prices have fallen slightly since today’s open, with no fundamental news driving price action.
Crude prices this morning are $46.63, up 1.2% from yesterday’s close. Crude opened at $46.08 today, $.64 higher than yesterday’s opening price. Interestingly, today’s price broke through the 50-day moving average price of $46.54, which is an indicator of bullish market sentiment.
After a slow start comprised of daily up-down-up movement, prices this week have risen higher amid a falling dollar and inventory stock draws. Prices have risen from an opening price of $44.35 on Monday to over $46 today, a gain of around $2/bbl, or around 4.5%.
Crude prices are currently $45.46/bbl this morning, down .7% from yesterday’s closing price of $45.49. Prices reached a high yesterday of $46.48 following the EIA inventory report, followed by a less enthusiastic response to high production data and falling demand. Prices opened this morning at[…]
Ever since OPEC announced their cuts in November 2016, markets have grown increasingly reliant on oil inventories to dictate overall market sentiment, giving markets a push one direction or another. With yesterday’s reported crude inventory draw of 7.5 MMbbls, the largest stock draw of the year,[…]
Crude prices this morning are $46.05, picking up some notable gains this morning. Crude opened this morning at $45.74, and have edged higher throughout the morning. Prices ended the day roughly $.50 higher than their opening yesterday, ending at $45.04. Prices have risen over a dollar from[…]
Truck operators are faced with a number of fueling choices – should you use conventional diesel #2, renewable diesel, or one of the varying blends of biofuels, ranging from B5-B20, or evem B99. Fortunately, one concern that customers have really shouldn’t be concerning at all – consuming B5 fuel[…]
Crude prices this morning are $43.98, having shed the gains the market put up yesterday. Crude opened this morning at $44.58, slightly higher than yesterday’s opening price of $44.35. Yesterday the market fell to $43.65, before traders bid the price up to $44.84, closing at $44.40. Prices are now[…]
Fuel prices had a bumpy week, opening the week at $46.28/bbl on Monday, rising as high as $47.32 on Wednesday, and falling to open on Friday at just $45.35, ending the week in the red. Markets are falling rapidly on Friday morning, and have reached lows of $44.05 as of the time of writing. After[…]
Crude prices are currently $45.88/bbl this morning, down 2.5% from yesterday’s opening price of $47.04/bbl. Yesterday’s price movement ended the 8-day streak of rising prices. Prices opened this morning at $45.65/bbl, slightly higher than yesterday’s close of $45.13/bbl.
Editor’s Note: Renewable energy has demonstrated impressive growth in recent years; however, renewables still have a long way to grow before they can rival fossil fuels. Renewable energy providing electricity is still unreliable – since weather is unpredictable, fossil fuels must continue providing[…]
After rising to over $47 on Monday, crude prices have fallen back to $46.55 this morning. Last Friday, crude prices rose over a dollar, from an opening price of $44.89 to a close of $46.04. Monday continued the gains, and prices closed at $47.07. Today, prices are slipping lower on a lack of[…]
The EIA released its weekly data on diesel and gasoline retail prices for the week ended July 3, 2017. After a series of weekly price declines, crude prices pushed significantly higher last week, bringing mixed results for gasoline and diesel prices. For the current week, prices for diesel[…]