CO Energy

Oil Prices look poised to move higher in the coming days, thanks to recent comments made by Russia, which said its oil output had dropped almost to its target of 8.5 million barrels per day. While West Texas Crude was not traded Monday, because of the Memorial Day holiday, other oil indicators moved higher following Russia’s comments. In ...

Oil recorded some of their highest prices of the past couple of months during Monday’s trade. West Texas Crude increased $2.57, or 8.7% in Monday’s action, to close at $32.01; the highest price recorded since March 16th. The optimism was spurred by more and more countries easing restrictions put in place to slow the spread of the coronavirus. It’s too e ... Read More ...

Average gas prices rose for the first time in ten weeks, while diesel prices continue to fall.  GasBuddy reported Monday the national average price of gasoline has moved higher, rising 1.5 cents over the last week to $1.75 per gallon.  Th ...

For the first time in U.S. history, oil prices fell into negative territory as demand continues to dry up because of the stranglehold the coronavirus pandemic has on the global economy. Industry experts says the globe now has a lot of oil and very few remaining places to store it, thus meaning producers are paying buyers off their hands ...

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 ...

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. ...

Oil prices are currently trading at the lowest levels we’ve seen in roughly two decades. As of Monday afternoon, West Texas Crude was trading around $20 per barrel, a significant drop from over $47 price we saw to start the month of March. ...

Coronavirus is not only dominating the news headlines locally and nationally, but COVID-19 is also dominating the minds of oil investors. And that’s why oil prices have been trading near prices we haven’t seen since 2002, in the low $22 per barrel range. Pat ...

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 ...

As the coronavirus spreads internationally, global economies are slowing, requiring less fuel and less oil. And in turn that has pushed oil prices lower yet again. Patrick DeHaan with GasBuddy.com said the reduced demand has been the #1 issue on the minds of investors for weeks now, and it remains unseen how far and wide the coronavirus will spread ...