China Opens Strategic Petroleum Reserve Surprising Many

Oil prices rallied a bit in Monday trading, increasing roughly 1%. Patrick DeHaan with Gas Buddy said a variety of issues pushed prices higher, including an ongoing increase in coronavirus cases across the globe, shutdowns in the Gulf Coast rejoin due to hurricane Ida, as well as China’s decision to tap into their Strategic Petroleum […]

DeHaan: COVID Continues To Drive Oil Markets, OPEC

The “new norm” that we saw in 2020 has continued for most, if not all of 2021. COVID-19 case counts continue to dictate where oil prices move, and while demand for oil has rebounded from the lows we saw last year, along with oil prices, “Oil production is lagging behind the recovery and demand and […]

DeHaan: OPEC, COVID Numbers Have Investors Concerned

After a considerable sell off late last week, that saw oil prices drop to their lowest levels since May, the price of a barrel of oil climbed Monday to roughly $65. Patrick DeHaan with GasBuddy noted the sell off last week was spurred by a one two punch; rising COVID cases and OPEC increasing oil […]

OPEC, COVID Holding Oil Prices

Oil prices were largely unchanged as the final week of July got underway. West Texas Crude traded near or just below $72 per barrel in Monday’s trade. Patrick DeHaan with GasBuddy noted oil prices have held steady over the past two week not only because of a rapid increase in the number of COVID Delta […]

Oil Prices Move Lower As COVID Numbers Move Up

After weeks of climbing steadily, oil prices dropped considerably in Monday’s trade, with West Texas Crude Oil trading around $67 per barrel. The sharp drop came shortly after OPEC announced an increase in oil production. In addition, coronavirus cases continue to weigh on the minds of investors. Patrick DeHaan with Gas Buddy said investors are […]

DeHaan: OPEC Disagreements Stall Oil Prices

After weeks of a steady climb, and hitting one of highest prices we’ve seen in months, oil prices have flattened from last week’s high water mark. West Texas Crude was trading just under $74 per barrel in Monday’s action. So, why the sudden price slowdown? Patrick DeHaan with GasBuddy says it was triggered by UAE […]

Oil Prices Continue To Move Higher As Demand Continues To Climb

Oil prices continue the slow climb higher that consumers have seen for several months at this point. Patrick DeHaan with GasBuddy says a barrel of West Texas Crude was up to around $71 in Monday’s trade. And he noted there are two key issues pushing those oil prices higher. First, DeHaan noted, demand for oil […]

DeHaan Anticipates Higher Oil Fuel Prices This Summer

As countries around the world report improved COVID-19 numbers, oil prices are moving higher. Patrick DeHaan with GasBuddy says West Texas Crude was trading as high as $70 per barrel in Monday’s action, continuing a trend of slowly pushing higher. DeHaan noted the increase in oil prices is a story of recovery. “There has been […]

DeHaan: Recovery From Pandemic Pushing Oil, Fuel Prices Higher

The past week has been a quiet one when it comes to oil prices and fuel prices nationwide. West Texas Crude traded around $65 per barrel Monday, some of the highest prices we’ve seen in weeks, but still off of the numbers reported in March. Demand continues to go up across the U.S. pushing those […]

Seesaw COVID News Continues To Keep Oil Prices Quiet

Oil prices continue to move back and forth because of mixed international news, specifically focused on coronavirus. Because of that Patrick DeHaan with Gasbuddy said the price for a barrel of West Texas Crude held fairly flat, trading Monday around $62. DeHaan said at this point, it’s difficult to tell where oil prices are going […]