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[…]
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.
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.
Yesterday’s trading session saw mixed results after the EIA reported the 8th consecutive stock draw from crude oil, and stock builds for both products. Crude gained 30 cents from its opening price to settle at a three year high of $63.80. Today, crude prices are trending lower, with prices[…]
It’s been another week of large gains for crude oil, with prices gaining $1.96 between Monday’s opening price and this morning. The New Year is continuing its trend to push prices higher with crude oil posting a three year high closing price on Thursday. After the API reported massive inventory[…]
Markets remained mostly flat during yesterday’s trading session following an EIA report that showed minimal draws compared to the large draws estimated by the API report. Despite the rather disappointing inventory report, crude kept its strength throughout the day and closed 16 cents higher than[…]
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[…]