Prices

Oil

Oil still tumbling on US stockpile increase, prospects of more Libya oil

Source: 
Bloomberg

With the crude market “oversupplied” -- as one analyst put it -- there was little propping up prices Thursday. West Texas Intermediate for September delivery plummeted $2.01 to $95.58 a barrel on the New York Mercantile Exchange, the lowest close since January, while in London September Brent crude plunged $2.27 to $102.01 a barrel, the lowest settlement on a front month contract since June, 2013, Bloomberg reports.

Oil

Oil resumes drop on ample supply, low demand expectation

Source: 
Reuters

Strong crude supplies – accentuated by the Energy Information Administration’s report of a stockpile build last week – coupled with fresh word of stalled economic growth in Europe put downward pressure on prices again Thursday. U.S. benchmark crude fell 12 cents to $97.47 a barrel in electronic trading on the Nymex, while in London Brent crude for September delivery slipped 16 cents to $104.12, Reuters reports.

Oil

Oil gains on concerns correction went too far

Source: 
Bloomberg

Oil rebounded Wednesday on fears recent price drops were too dramatic given the present state of global uncertainty, despite data showing stocks increased last week. West Texas Intermediate crude for September delivery gained 22 cents to settle at $97.59 a barrel on the New York Mercantile Exchange, while in London Brent crude jumped $1.26 to $104.28, Bloomberg reports.

Oil

Oil drops again on strong supply, weaker China demand

Source: 
Reuters

With the world appearing to be awash in oil and demand in China slipping in July, prices were dropping again Wednesday. U.S. benchmark crude was down 17 cents to $97.20 a barrel in electronic trading on the Nymex, while in London Brent crude for September delivery fell for a fourth straight day, trading 24 cents lower to $102.78, Reuters reports.

Oil

Oil prices slide on IEA report

Source: 
Bloomberg

A report from the International Energy Agency which points to ample crude supplies and lessening oil demand sent prices tumbling Tuesday. West Texas Intermediate crude fell 71 cents to $97.37 a barrel in trading on the New York Mercantile Exchange, while in London Brent crude dropped 1.6 percent to settle at a 13-month low, down $1.66 to $103.02, Bloomberg reports.

EnergyGuardian
Oil

EIA: Gas prices will drop through December

The Energy Department's statistics wing on Tuesday offered drivers who have enjoyed declining gasoline prices more good news: The pain at the pump should continue to lessen.

In its monthly short term energy outlook, the Energy Information Administration said the prime driver of gasoline costs, crude oil prices, should remain steady for the rest of the year despite record U.S. refinery demand.

Oil

Oil down on IEA report of ample supply

Source: 
Reuters

Oil prices dropped Tuesday on the International Energy Agency report of strong supplies despite continuing conflicts in Iraq and Ukraine, with an increase in OPEC production in July of 300,000 barrels a day. U.S. benchmark crude fell 68 cents to $97.40 a barrel in electronic trading on the Nymex, while in London Brent crude was 69 cents lower to $103.99, according to Reuters.

Oil

WTI up on anticipation of lower stockpiles

Source: 
Bloomberg

U.S. oil gained Monday as increased refinery production is expected to have an impact on inventories. Benchmark West Texas Intermediate crude for September delivery was up 43 cents to settle at $98.08 a barrel on the Nymex, while in London Brent crude dropped 34 cents to $104.68, Bloomberg reports.

Oil

Oil steady as Iraq keeps pumping crude

Source: 
Reuters

U.S. air strikes in recent days on Sunni Islamic militants in Iraq and the steady flow of oil there were keeping a lid on oil prices Monday. U.S. benchmark crude gained 11 cents to $97.76 a barrel in electronic trading on the Nymex, but in London Brent crude slipped 17 cents to $104.85, Reuters reports.

Oil

US gasoline prices down 6 cents a gallon

AMARILLO, Calif. (AP) — The average U.S. price of gasoline has dipped 6 cents a gallon in the past two weeks and prices in California have fallen 9 cents in the same time period.

According to the Lundberg Survey released Sunday, the average nationwide for a gallon of regular is now $3.52. The average price for midgrade gasoline is $3.83 and premium is $3.88.

Of cities surveyed in the Lower 48 states, the lowest price, $3.19, was in Jackson, Mississippi.

Pages

Subscribe to Prices