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Oil Prices Rebound Slightly After Historic Week
Oil Prices Rebound Slightly After Historic Week
Oil Prices Rebound Slightly After Historic Week
A week after oil prices dropped into negative territory for the first time, West Texas has rebounded, slightly. As of Monday, WTI was trading at $13 per barrel. Patrick DeHaan said as over the past couple of weeks, the main culprits when it comes to pushing oil prices lower remain; coronavirus, Saudi Arabia and Russia ...
Oil Investors Unimpressed With Announced Production Cut
Oil Investors Unimpressed With Announced Production Cut
Oil Investors Unimpressed With Announced Production Cut
Despite this week’s oil production cuts, oil prices remain very low. As of Monday, West Texas Crude was trading around $25 a barrel. While OPEC has agreed to trim nearly 10 million barrels a day to stabilize the market, Patrick DeHaan with Gas Buddy says there’s a lot of skepticism on this deal. “Ke ...
One, Two Punch Pushing Oil Prices Lower
One, Two Punch Pushing Oil Prices Lower
One, Two Punch Pushing Oil Prices Lower
Oil prices, much like the rest of the world economy has been struggling as of recent. Allison Mac with GasBuddy.com said the coronavirus continues to greatly slow the China and now world economy, leading to a glut of oil. On top of that, over the weekend, Saudi Arabia and Russia could not see eye to eye on production, so the two countries started a price war ...
Oil Investors Unmoved By Trade News, Says DeHaan
Oil Investors Unmoved By Trade News, Says DeHaan
Oil Investors Unmoved By Trade News, Says DeHaan
Despite Congress approving USMCA and sending it to President Trump for his signature, and despite the U.S. and China signing the Phase One trade agreement last week, oil investors remain unimpressed.  Patrick DeHaan with GasBuddy.com said oil prices were trading the holiday Monday around $58 per barrel, down considerably from the prices reported last week.  Th...
Fuel Prices Move Higher Due To Domestic Issues
Fuel Prices Move Higher Due To Domestic Issues
Fuel Prices Move Higher Due To Domestic Issues
Fuel prices across the board increased in the past week, but the main contributing factor wasn’t the trade war with China, or tensions with Iran, but domestic issues.  Patrick DeHaan with Gasbuddy.com says the federal government reported an unexpected drop in oil and diesel inventory.  And on top of...
Middle East Center Of Oil Conversations
Middle East Center Of Oil Conversations
Middle East Center Of Oil Conversations
Oil prices have shown very little movement over the past week, hovering around $53 per barrel for West Texas Crude.  The lack of movement is atypical for this time of year.  Patrick DeHaan with GasBuddy.com said traditionally oil prices drop as we transition into the heart of fall, and thanks to the ongoing trade war with China, oil prices could move down even more.  However...

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