Hurricane Harvey (still categorized as a Tropical Depression at the time of writing) brought record-level rainfalls to East Texas and West Louisiana, causing flooding and destruction throughout the Gulf Coast. Cumulative rain falls surpassed 50 inches in some area, the most rain ever received from[…]
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[…]
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.