Unrest In Producing Counties Weighing On The Minds Of Oil Investors

Oil prices traded higher in early Monday action, but when it was all said and done, eventually closed slightly lower. West Texas Crude closed 1% lower, primarily on the unrest in oil producing countries, such as Kazakhstan and Libya. Patrick DeHaan with GasBuddy said oil and gas demand is bearish this time of year, especially […]

DeHaan: Fuel Price Picture Trying To Return To “Normal”

While investors are starting to look at life past omicron, the latest COVID-19 variant continues to have the biggest impact on oil prices. Patrick DeHaan with GasBuddy noted that West Texas Crude traded in the mid-$80 per barrel range during Monday’s action and closed with some of the highest prices since the summer. The increase […]

DeHaan: Oil Prices Rally As Fears Over Omicron Diminish

Oil prices are rallying as 2021 draws to a close. Patrick DeHaan with Gasbuddy noted West Texas Crude was trading up roughly $2 per barrel in Monday action, to near $76. That he noted is $14 per barrel higher than the start of the month, when Omicron fears started to impact investors. But he said […]

DeHaan: Oil Markets Not As Concerned About Omicron Variant

Despite wild weather in the Midwest and Southeastern U.S. and growing tensions with Russia and China, coronavirus remains the top issue for oil investors. Patrick DeHaan with GasBuddy said the Omicron variety has had the attention of the markets for roughly two weeks, but he noted investors are not as concerned about this new variety […]

Omicron Variant Giving Oil Investors Reason To Pause

Oil prices continue to move lower as health officials across the globe express concerns over the new coronavirus variant. Patrick DeHaan with GasBuddy said because of Omicron, oil prices continue to drop, trading in Monday’s action in the up $60 per barrel range. He added that is starting to move fuel costs lower nationwide with […]

DeHaan New Variant Creates Short-term Concern For Oil Investors

It was a rough Thanksgiving week for oil investors as oil prices slipped 13% last week due largely to growing concerns about the new COVID-19 variant, omicron, reported in South Africa. While oil prices dropped, sharply Friday, as did stocks and bonds on Wall Street, the downward trend was relatively short-lived. “Over the weekend, there […]

Oil Prices Start November Off With A Turbulent Ride

It’s been a turbulent start to November for oil prices, which over the past week have traded as high as $85 per barrel, and as low as $78. West Texas Crude was trading around $82 in Monday’s action. Why the volatility? OPEC decided to stick to its guns and increase oil production slowly, by the […]

Oil Prices Not Expected To Ease Anytime Soon

Consumers continue to deal with high prices at their local fuel station, thanks to the highest crude oil prices we’ve see in the past seven year. West Texas Crude was trading above $84 per barrel in Monday’s action, pushing gasoline and diesel prices higher. Patrick DeHaan with GasBuddy says a bulk of what’s keeping oil […]

Will Fuel Prices Level Off Soon?

Oil prices remain around levels we haven’t see since early in the pandemic,  with a barrel of West Texas Crude trading Monday around $82 per barrel. Because of that fuel prices remain high nationwide, with the national average for a gallon of gasoline up 3.8 cents from a week ago, and over 17 cents higher […]

DeHaan: Oil Prices Continue To March High As Demand Outpaces Production

Oi price continue their slow march higher, trading Monday around $82 per barrel, the highest prices since April 2020. Patrick DeHaan with GasBuddy says oil production is lagging far behind demand. “Certainly not helped by the energy crunch that’s happening overseas.  China is running low on coal and a natural gas shortage in Europe, both […]