EIA: Gas prices peaked in June
Retail gasoline prices in the United States should hold more or less steady through the end of summer as demand remains steady, a federal review finds. A short-term market report Continue Reading
Oil “Death Spiral” Emerges
One week ago, we looked at an epic build up of gasoline inventories on the East Coast, also known as PADD1, which had slammed the crack spread to record lows Continue Reading
Surprise U.S. gasoline stock build crimps refiner margins
U.S. gasoline and distillate stocks surged unexpectedly last week, data showed on Wednesday, crimping margins for refiners at the height of summer driving season, a time when they generally enjoy Continue Reading
Crude Prices Down as IEA Report Points to Record Stockpiles
Crude oil prices fell Wednesday after surging nearly 5% overnight, as investors took profits and a bearish monthly International Energy Agency report pointed to record stockpiles. Brent crude, the global Continue Reading
Oil Retreats After Industry Data Show U.S. Stockpiles Expanding
Nationwide supplies rose 2.2 million barrels last week: API IEA sees record Middle East oil supply while U.S. output falls Oil fell after the biggest gain in three months as Continue Reading
Oil drops as investors lock in gains; surprise U.S. stockpile build
Crude futures fell on Wednesday as investors locked in gains after oil prices surged nearly 5 percent in the previous session, partly on forecasts from the U.S. government and OPEC Continue Reading
Oil Rises on Supply Forecast, Inventory Expectations
Oil prices rose Tuesday after forecasting agencies said production outside the Organization of the Petroleum Exporting Countries would fall this year more than previously expected. Traders also expect weekly U.S. Continue Reading
Oil bounces back from two-month lows on weaker dollar
Oil futures bounced back from two-month lows on Tuesday, helped by a weaker dollar, but a global stocks overhang and a drop in bullish bets by investors still weighed on Continue Reading
Data Gap Whipsaws Oil Prices on Differing Views of Stockpiles
API-EIA figures diverge by 2+ million barrels in 6 of 10 weeks Prices flip as traders seek edge on government supply number Oil traders don’t know who to follow these Continue Reading
U.S. gas prices at 12-year low for this date
Gas prices in the United States are at their lowest point in 12 years because of market conditions, though some areas are ripe for a spike, analyses find. Motor club Continue Reading