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[…]
Markets rose yet again yesterday, with crude oil surpassing $57 per barrel to close the day at $57.35, a gain of 2.5%. The oil complex is reeling from a slew of geopolitical risk factors impacting producers around the world. Crude prices are calm this morning, though we said the same yesterday[…]
Oil markets have leveled off, with crude oil trading flat this morning after a strong rally late Friday afternoon. Crude markets opened at $55.97 this morning, which was the highest opening price in more than two years; you’d have to look back to July 2015 to find higher prices. Crude prices are[…]
Markets are moving higher this morning after a mixed trading session Thursday. Crude oil made modest gains during yesterday’s sessions, picking up 26 cents from opening to close. Prices continue to move slightly higher this morning, gaining 17 cents to reach its current price of $54.71. Crude is on[…]
The oil complex saw mixed results after a somewhat disappointing EIA report. Crude prices fell 35 cents yesterday, as the EIA confirmed a smaller than expected draw this past week. Crude is trading mostly flat this morning, lossing another 9 cents (.07%) this morning, bringing prices to $54.21.
Markets got a strong boost from a bullish API report published yesterday, which propelled prices higher overnight and this morning. Crude prices gained 30 cents yesterday to close at $54.38. This morning, crude is continuing to strengthen, gaining another 52 cents (.96%) to bring prices to $54.90.