Crude is trending lower this morning, though the near-term fundamental news of the week has been relatively supportive. Despite oil inventories continuing their trend lower, crude prices fell slightly yesterday, giving up 12 cents. Today, prices are a good deal lower, with crude prices currently at[…]
After five straight weeks of steady gains that have brought WTI crude prices a whopping $6 higher (over 10% gains in just a month), it looks like markets are set to break their winning streak. Crude prices are down 70 cents (1.1%) this morning compared to Tuesday’s opening price. Analysts are[…]
The oil market failed to make any notable movements yesterday, with WTI crude oil ending just 8 cents above its opening price. Today, that inactivity continues, with prices dropping just slightly lower. Refineries in the Gulf Coast have been struggling with freezing temperatures, and its affected[…]
Oil markets lost ground yesterday, led lower by falling diesel prices. Crude gave up a bit over 1% yesterday, closing at $63.73. Today, prices have been flat, searching for a direction ahead of this afternoon’s API report. Crude prices are trading at $63.65, a loss of 8 cents.
After sweeping across the Midwest and bring extremely low temperatures, Winter Storm Inga has made its way to the East Coast, bringing snow and icy weather from Florida to Maine. Today will hopefully be the worst of the bad weather, but the storm has already had an impact on fuel supply.
Oil markets once again hit a new high yesterday, with WTI crude closing well above $64. New highs have become the norm in recent weeks, as January has brought $4 in gains in just the first half of the month. Today, prices have cooled off a bit, with prices down by 24 cents, trading at $64.06. Of[…]
Markets are trading lightly today, with many institutions closing in observance of Martin Luther King, Jr. Day. After a big up-and-down last week that saw prices fall from $64.50 $63.20 and back up, crude prices are currently trading just a few cents above Friday’s closing price, at $64.40.
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Markets continued their bullish run yesterday with gains exceeding $1/bbl (1.7%), thanks to a large inventory stock draw reported by the API. The latest push boosted prices above $63, another multi-year high for crude oil, though prices fell slightly below the threshold before closing. Today,[…]
After some ups and downs yesterday, crude oil managed to wend its way back to positive territory, with prices ending the day 12 cents higher. Today, prices are pushing their way higher once again, with prices currently surpassing $62/bbl. Over the past week, prices have peaked above $62 a couple[…]