Coronavirus Continues To Be Chief Concern On Minds Of Oil Investors

Oil prices continue to remain at some of the lowest prices we’ve seen in ten plus years. On Monday, West Texas Crude was trading lower, around $26 per barrel. And as it has been for the past two plus months, coronavirus continues to push oil prices lower.

Patrick DeHaan with says even if the coronavirus pandemic is a distant memory, he does not expect oil prices to rebound anytime soon.

“Well, and this point, I think it’s going to take months if not longer, or normal demand to see prices finally rebounding so, we’re at a point in my estimation that average prices, average demand may not fully recover until later this year.”

DeHaan added putting additional downward pressure on oil prices is the going production spat between Saudi Arabia and Russia.

What does that mean for local diesel prices?

  • $2.52 a gallon in the Tri-Cities
  • $2.59 a gallon in Wenatchee
  • $2.89 a gallon in Pullman
  • $2.49 a gallon in Lewiston
  • $2.25 a gallon in Moses Lake
  • $2.59 a gallon in Pendleton
  • $2.90 a gallon in Walla Walla
  • $2.34 a gallon in Yakima

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