AAA says California gasoline pump prices surpass $4/gal
The average price for regular grade gasoline at the pump in California has jumped above $4/gal, for the first time since the summer of 2014, according to a AAA company Continue Reading
Oil prices extend losses as oversupply worries drag
Oil prices edged down on Tuesday after a Russian minister said the nation and OPEC may boost crude output to fight the United States for market share, checking a recent Continue Reading
Crude futures slip amid expected stock build, US economic concern
Crude oil futures were lower Tuesday during mid-morning Asia trade amid an expected build in US crude inventories and concern about the strength of the US economy. At 10:30 am Continue Reading
Oil rally stalls on talk of OPEC+ boosting output
Oil prices halted their rally on Monday, with both benchmarks down nearly 1 percent, after Russia’s finance minister said Russia and OPEC may decide to boost production to fight for Continue Reading
‘High’ Oil Prices Are Already Dampening Demand
Crude oil prices are affecting demand for the commodity negatively, the International Energy Agency’s head Fatih Birol told S&P Global Platts in an interview . “The higher oil price environment Continue Reading
The Case For $100 Oil
The odds of an oil price spike this year are much higher than the prevailing consensus in the market, according to a new report from Bank of America Merrill Lynch. Continue Reading
Traders In Limbo As Mounting Uncertainty Pulls Oil In All Directions
Crude oil prices are expected to finish the week higher, but the price action late in the week suggests the market may be getting a little top heavy. Early in Continue Reading
Crude slips on rig count; supply concerns in focus
Crude oil futures slips during mid-afternoon trade Monday on the back of higher rig counts in the US, but supply concerns remained in focus for now, industry sources said. At Continue Reading
Brent Could Hit $80 This Summer As Hedge Funds Lose Steam
Brent Crude and WTI Crude prices hit a five-month high this week amid signs of tightening market and clashes in wildcard OPEC producer Libya. Brent Crude topped $71 and WTI Continue Reading
Interview: Oil prices above $70/b already hurting demand growth – IEA’s Birol
Current oil prices above $70/b are already starting to drag on global oil demand and threaten to soften demand growth forecasts this year, the International Energy Agency’s executive director Fatih Continue Reading