Price Check in the Gas and Diesel Aisle...

#1,551
If a person only used the price of WTI to forecast the future.... The status quo for 2024 has been established early in the year.
What you see is what you get for the remainder of the year.
Make the most of it.
WTI Crude • 71.53 -0.75-1.04%
Brent Crude • 76.74 -0.59-0.76%
 
#1,554
Upticking
WTI Crude • 76.91 +0.07+0.09%
Brent Crude • 81.98 -0.21-0.26%

1707768224557.png
 
#1,569
I won't quibble over a few cents, one way or the other. We can agree that regionally there will be price differences.
But, today the world is valuing a barrel of oil at $80 +/-.
There is no cheap oil in the market place. Consumer prices on everything will reflect this.

1709307477220.png
 
#1,579
HOUSTON — Saudi Aramco CEO Amin Nasser said Monday that the energy transition is failing and policymakers should abandon the “fantasy” of phasing out oil and gas, as demand for fossil fuels is expected to continue to grow in the coming years.

“In the real world, the current transition strategy is visibly failing on most fronts as it collides with five hard realities,” Nasser said during a panel interview at the CERAWeek by S&P Global energy conference in Houston, Texas.

 
#1,582

Oil rises as heightened geopolitical risks exacerbate supply concerns​


TOKYO, March 25 (Reuters) - Oil prices rose in Asian trading on Monday on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure.
Brent crude futures climbed 39 cents, or 0.5%, to $85.82 a barrel at 0759 GMT. U.S. crude futures gained 40 cents, or 0.5%, to $81.03 per barrel.
Both benchmarks fell less than 1% last week versus the previous week. A stronger U.S. dollar, which rose about 1% over the last week, has kept a lid on prices.



 
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#1,584
Maxwell said:
Just went from $3.09 last week to $3.17 Sunday when we filled the Mrs.’s car. The gas attendant said they raised the price twice this past weekend alone.

Sick to think when filling up w/ gas I would think of @Hobo Hilton and wondering if he will have the gas thread updated.

Maxwell
Click to expand...
When I fill up I think of you guy's also.... My gas station is next to my grocery store. The "Ripple Effect" is felt rather quickly from gas station to grocery store.
 
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#1,588
The price of oil is having less to do with "supply and demand" and more to do with inflation / the shrinking USD.

The recent rally in oil prices is pushing the benchmarks towards a quarter of gains thanks to the OPEC+ output cuts.
WTI, according to Bloomberg, has added 14% since the start of the year, topping $82 per barrel earlier this week. Brent crude has gone from around $78 per barrel at the start of the year to over $86 per barrel this week.
What’s interesting in the latest movements in oil is that prices earlier today moved up despite the Energy Information Administration reporting an estimated build in crude oil stocks for the latest week, as well as another one in gasoline.
Normally, these builds would be taken as signals of weaker demand but it seems traders are not taking these signs literally this time and are buying more oil instead of selling.
The anticipation of rate cuts, especially in the United States, is also acting as support for prices as lower rates stimulate stronger demand for crude. The first rate cut by the Fed is expected in June although the Fed itself has not set any date for it.

 
#1,596
Rising seasonal demand and higher crude oil prices have resulted in the highest average U.S. gasoline prices in nearly six months, with the national average at $3.58 per gallon as of April 4.
The national average hit a new multi-month high on Thursday morning, rising to $3.58 per gallon, the highest since October 14, Patrick De Haan, head of petroleum analysis at GasBuddy, noted.
The national average is now 7.2 cents per gallon higher than at this time last year, De Haan added.
The current average price of a gallon of regular gasoline is some 20 cents higher than the $3.352 average one month ago, according to data from AAA.

oilprice.com

U.S. Gasoline Prices Hit Highest Level in Six Months | OilPrice.com

The average price of gasoline in the United States has hit a six-month high due to rising seasonal demand and higher oil prices.
oilprice.com oilprice.com
 
#1,597
No let up on price increases.
This is expensive WTI and will be felt at the pump and across the transportation sector.
This will be passed on to the consumer... You and I

WTI Crude • 86.97 +0.38+0.44%
Brent Crude • 91.14 +0.49+0.54%
 
#1,600
ca.finance.yahoo.com

The Odds of $100 Oil Are Rising as Supply Shocks Convulse the Market

(Bloomberg) -- When oil jumped above $90 a barrel just days ago, military tensions between Israel and Iran were the immediate trigger. But the rally’s foundations went deeper — to global supply shocks that are intensifying fears of a commodity-driven inflation resurgence.Most Read from...
ca.finance.yahoo.com ca.finance.yahoo.com
 
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