Prices

Oil

Oil gains on drop in Saudi crude exports

Source: 
Reuters

Data showing Saudi crude exports have fallen to their lowest level since December helped to support oil prices early Monday following a steep slide last week. West Texas Intermediate crude for August delivery inched up 5 cents to $50.94 a barrel in electronic trading on the Nymex, while September Brent rose 3 cents to $57.15 in London, Reuters reports.

Oil

Gasoline prices steady into the heart of summer

So far the Energy Information Administration prediction of the lowest summer gasoline prices in six years appears to be holding up.

A week after EIA made its projection the national average stood at $2.76 per gallon, down slightly over the seven-day period, according to AAA and GasBuddy.com.

Oil

Oil steady on fewer drilling rigs

Source: 
The Wall Street Journal

The drop in rig count helped oil prices recover toward the end of the New York session Friday, although U.S. benchmark crude still ended the week with a 3.5 percent drop. Light, sweet crude for August delivery lost 2 cents to settle at $50.89 a barrel on the Nymex, while in London Brent gained 18 cents to $57.10, The Wall Street Journal reports.

Oil

Oil steady but on track for weekly drop

Source: 
Reuters

A continued North Sea oil outage was acting to support oil prices early Friday, although they remain on track to decline for a third week in a row. U.S. benchmark crude lost 4 cents to $50.87 a barrel in electronic trading on the Nymex, while in London Brent gained 15 cents to $57.07, Reuters reports.

Oil

Oil mixed

Benchmark U.S. crude lost 50 cents Friday to close at $50.91 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 46 cents to close at $57.51 a barrel in London.

Oil

Manufacturing growth in Philly area slows in July

WASHINGTON (AP) — Manufacturing growth in the Philadelphia region fell in July, a sign that factories are struggling to contribute much to the expanding U.S. economy.

The Federal Reserve Bank of Philadelphia said Thursday that its index of factory activity fell to 5.7 in July from 15.2 the previous month. Any reading above zero indicates that manufacturing is expanding.

Oil

Oil gains on inventory drop, UK oil field outage

Source: 
Reuters

A drop in U.S. crude inventories combined with a shutdown in Britain’s largest North Sea oil field helped boost prices early Thursday. West Texas Intermediate crude rose 30 cents to $51.71 a barrel in electronic trading on the Nymex, while in London Brent gained 55 cents to $57.60, Reuters reports.

Oil

Oil plummets on signs of refinery glut

Source: 
The Wall Street Journal

Concerns about a supply glut of refined products – based on data showing a record high for inventories of crude and petroleum products – sent oil prices tumbling Wednesday. U.S. benchmark crude for August delivery lost 3.1 percent, or $1.63, to settle at a three-month-low of $51.41 a barrel on the Nymex, while in London, Brent dropped $1.46 to $57.05, The Wall Street Journal reports.

Oil

Fed survey finds economic growth in all regions of country

WASHINGTON (AP) — The U.S. economy was expanding in all regions of the country in the late spring, aided by strong sales of autos and other consumer goods.

In its latest survey of business conditions, the Federal Reserve said Wednesday that some of its regions reported that lower energy prices were encouraging consumers to shop and eat out more. Growing sales of homes and commercial real estate also boosted the economy.

Oil

Wholesale inflation stays mild

WASHINGTON (AP) — Other than a price spike for eggs as a result of an avian flu outbreak, inflation remained tame last month across the rest of the economy.

The producer price index, which measures the costs of goods and services before they reach consumers, increased 0.4 percent in June.

Pages

Subscribe to Prices