Fuel prices at a gas station in San Francisco, California, US. Photographer: David Paul Morris/Bloomberg Oil fell after the Federal Reserve delivered the biggest rate increase in almost three decades Continue Reading
Oil prices fell more than $3 on Wednesday as markets worried about a fall in demand after the Federal Reserve hiked interest rate by three-quarters of a percentage point. Brent Continue Reading
Gasoline and diesel prices in the Golden State may soar to fresh records in coming weeks as one of the largest refineries on the West Coast starts maintenance. Chevron Corp. Continue Reading
After plunging to a 5-week-low on Tuesday, natural gas prices in the U.S. have ramped up again, gaining 4% on Wednesday on excessive temperatures expected to last through next week. Continue Reading
Highlights Global oil demand to rise 3.36 million b/d in 2022: OPEC Russian oil supply to decline 170,000 b/d from 2021: OPEC US gasoline inventories fall 2.2 million barrels: API Continue Reading
Oil prices rose on Tuesday as tight global supply outweighed worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China. Brent crude futures Continue Reading
Fitch Ratings has increased its short- and medium-term oil price assumptions, reflecting the increasing number of buyers boycotting imports from Russia. American credit rating agency Fitch Ratings has increased its Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 736,000 barrels, while analysts predicted a draw of 1.2 million barrels. The small build comes as Continue Reading
Pump prices in the New York metro area hit a fresh record as the driving season ramps up amid the lowest gasoline stockpiles the region has ever seen for this Continue Reading
Drivers around the world are tolerating record-high prices for road fuels, as mobility wins out for now over other spending in squeezed household budgets, data showed. The high prices have Continue Reading
Oil prices rose on Tuesday as tight global supply outweighed worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China. Brent crude futures Continue Reading
Oil futures shrugged off a broader market selloff, sustained by a growing belief that even an economic slowdown would fail to alleviate an ongoing supply crunch. West Texas Intermediate futures Continue Reading
With the return of Chinese demand hanging over oil markets, analysts are becoming increasingly bullish. Gasoline prices have hit their highest level ever and there are no signs of that Continue Reading
Sweltering temperatures are moving east this week into the Plains, the Upper Midwest and the Lower Mississippi River Valley, promising triple-digit heat along with a spike in gas-fired cooling demand. Continue Reading
Oil dropped about $2 a barrel on Monday as a flare-up in COVID-19 cases in Beijing dented hopes of a Chinese demand rebound, while worries about more interest rate hikes Continue Reading
Oil extended losses for a third session as investors weighed the prospect of further monetary tightening to combat surging US inflation and the potential for more virus lockdowns in China. Continue Reading
Crude oil futures were lower in midmorning Asian trade June 13, as pandemic-related concerns in China, coupled with a higher-than-expected US inflation report weighed on sentiment. At 10:53 am Singapore Continue Reading
U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning Continue Reading
Britain’s competition watchdog has been asked by the government to review the retail fuel market to see whether a cut in duty has been passed onto consumers as prices at Continue Reading
Some of the nation’s biggest food suppliers and restaurants, including Kraft Heinz Co. KHC 0.48%▲ and some McDonald ’s MCD -1.97%▼ Corp. franchisees, said they would continue to raise prices Continue Reading
Highlights Countries from Mexico to Argentina look to buy for different reasons Subsidies keep local prices low but demand high in Latin America Latin American diesel saw its third big Continue Reading
The price of U.S. gasoline averaged more than $5 a gallon for the first time on Saturday, data from the AAA showed, extending a surge in fuel costs that is Continue Reading
There is little evidence that gasoline prices, which hit a record $5 a gallon on Saturday, will drop anytime soon. Rising prices at the pump are a key driver in Continue Reading
Oil prices fell on Friday, after U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures. Brent crude fell $1.06 to settle at $122.01 a barrel. Continue Reading
Oil dipped at the end of the week — trimming a seventh weekly gain — as investors weighed China ’s bumpy return from virus curbs. West Texas Intermediate futures slipped Continue Reading
Energy prices would have to climb further for Americans to start cutting consumption, according to Goldman Sachs Group Inc. “Prices aren’t high enough yet to reduce demand growth sufficiently,” Damien Continue Reading
Highlights Countries from Mexico to Argentina look to buy for different reasons Subsidies keep local prices low but demand high in Latin America Latin American diesel saw its third big Continue Reading
US gasoline prices breach $5/gal level EIA forecasts maximum summer refinery utilization Russian diesel shortages have knock-on impact on gasoline With average US gasoline prices breaking the $5/gal level in Continue Reading
The average price of a gallon of regular unleaded gas in the U.S. hit $5 Friday night, and the rise in fuel costs is expected to persist throughout the busy summer driving Continue Reading
US dollar rises on week, stagflation concerns bump recovery China reimposes temporary lockdown Sentiment supported by peak driving season Crude oil futures were down in mid-morning Asian trade June 10, Continue Reading
Oil dipped at the end of the week — trimming a seventh weekly gain — as investors weighed China’s bumpy return from virus curbs. West Texas Intermediate futures slipped for Continue Reading
Oil prices slipped on Friday but remained within touching distance of three-month highs as fears over new COVID-19 lockdown measures in Shanghai outweighed solid demand for fuels in the United Continue Reading
Government data showing low natural-gas inventories helped prices rebound Thursday after a sharp decline Wednesday that followed a fire at a Texas fuel-export facility, which will reduce overseas shipments this Continue Reading
The decision by OPEC+ to boost its production quotas did not have the desired effect on oil markets, with prices having increased since then. One of the main reasons for Continue Reading
Oil prices gave up early gains on Thursday after parts of Shanghai imposed new COVID-19 lockdown measures, outweighing news of China’s stronger-than-expected exports in May. Brent crude futures for August Continue Reading
As U.S. gasoline prices approach a record average of $5 a gallon, fuel costs are rippling through almost every corner of business, with signs emerging that the rising expenses are Continue Reading
Since Monday, the national average for a gallon of regular gasoline has increased by 11 cents to $4.97. According to new data from the Energy Information Administration (EIA), total domestic Continue Reading
Oil prices gave up early gains on Thursday after parts of Shanghai imposed new COVID-19 lockdown measures, outweighing news of China’s stronger-than-expected exports in May. Brent crude futures for August Continue Reading
Oil prices rose on Wednesday, despite a likely rise in U.S. oil stocks, on the easing of Chinese COVID-19 related lockdowns and a possible strike by Norwegian oil workers. Brent Continue Reading
Citi’s Morse Says Booming US Exports Behind Crude Runup Oil maintained its gains after US government data showed crude inventories in the largest storage hub and gasoline stockpiles dropped, offering Continue Reading
Sonny Alaniz was headed home after midnight when his ATV lurched to a stop on a rural Texas road, the gas tank undeniably drained. The nursing student and his seven Continue Reading
The U.S. and its allies are searching for ways to limit further surges in global oil prices, attempting to balance efforts to cut off Russia’s revenue from its energy sales Continue Reading
Oil prices rose on Wednesday, despite a likely rise in U.S. oil stocks, on the easing of Chinese COVID-19 related lockdowns and a possible strike by Norwegian oil workers. Brent Continue Reading
Oil extended gains from the highest close in three months as the US summer driving season ramps up and China emerges from virus lockdowns. West Texas Intermediate futures rose above Continue Reading
After more than a year of pressure from the United States and other top oil consuming countries, OPEC+ finally agreed to accelerate oil supply increases last week to tame runaway Continue Reading
Goldman Sachs raised its short-term target for Brent crude from $125 to $140. Recovery in Chinese demand and a potential drop in Russian production may further lift prices. Goldman: the Continue Reading
Crude oil prices may soon hit $150 per barrel or more this year, Trafigura’s CEO Jeremy Weir told the FT Global Boardroom conference on Tuesday. The spike in crude oil Continue Reading
The head of Trafigura has warned that the oil market could reach a “parabolic state” later this year with prices surging to record highs and triggering a slowdown in economic Continue Reading
U.S. gasoline prices continue to surge, jumping by $0.30 a gallon in just one week to a new national average all-time high of $4.919 on Tuesday. Diesel prices also set Continue Reading
Geopolitical uncertainty and the ongoing impact of the pandemic led to increased oil price volatility and contributed to a more than $4/b rise in the US Energy Information Administration’s 2022 Continue Reading
