After a huge rally for fuel products on Friday that reversed the week’s losses, oil markets have lost their enthusiasm. Prices are adjusting lower this morning as traders take their profits and exit the market. Although crude prices could not completely reverse their losses for the week, Friday did[…]
Oil prices are seeking higher ground this morning, looking ahead to a holiday week next week when volumes will be light. Oil markets gained back some of the losses they took earlier in the week, with markets up 85 cents (1.5%) after trading flat/slightly lower all day yesterday. Prices are back[…]
Oil markets picked up some small gains yesterday, though nowhere near as much as they lost on Tuesday, following an EIA report that was less dramatic than the API report. Crude prices managed to pick up 27 cents yesterday, though prices once again trended lower early this morning. Prices have[…]
After heavy losses yesterday following the IEA’s bearish report, oil markets are continuing their turn downward. Crude prices yesterday gave up just over $1/bbl yesterday, sinking back down to the $55 range. Prices are continuing their losses this morning, down 60 cents (1.1%) to $55.10.
Oil prices are down across the board this morning, driven by bearish data coming from the International Energy Agency (IEA) this morning. After shedding a quarter on Monday, WTI crude prices are down again by 29 cents, trading at $56.47. Prices have been trending in the $56-57 range for the past[…]
Oil markets let off some steam on Friday; crude closed with small losses that caused prices to dip below $57/bbl. Markets are unchanged this week, continuing the relatively flat movements seen last week. Prices are up just 9 cents currently from Friday’s closing cost, failing to regain the $57[…]
Oil markets are trading flat this morning, unable to move higher but also stubbornly avoiding a return to lower levels. After opening below $57 yesterday, prices picked up 32 cents (0.6%) to close the day at $57.17. Crude prices this morning are currently unchanged from yesterday’s closing price.
Oil markets continue trading without direction after two days of mild trading. WTI Crude shed a light 15 cents yesterday, with markets appearing comfortable for the time being with a trading level between $56-58. Markets have not traded this high in years, and high volumes and length in the market[…]
Gasoline prices: The front-month futures price of reformulated blendstock for oxygenate blending (RBOB, the petroleum component of gasoline used in many parts of the country) rose by 21 cents per gallon (gal) from October 2 to settle at $1.77/gal on November 2 (Figure 5). The RBOB-Brent crack[…]
After a huge gain in oil prices on Monday, markets posted some small losses yesterday amid profit taking. Crude prices, which opened the week at $55.97, lost just seven cents yesterday to close at $57.20. Today, after seeing prices drop in the morning, crude prices have rebounded and are slightly[…]