The national average retail price of regular gasoline fell 5.8 cents to $3.367 a gallon in the week ended Monday, the Energy Information Administration said. Prices were at their lowest level since Jan. 28 for a second straight week. ...
Tags: Gasoline Price, Gasoline
The slide in LPG prices over the past four days on abundant supply and an Asian demand pause has sent physical values to six-week lows and flipped the paper market to the steepest contango structure since early July 2012, market sources ...
Tags: Metallurgy, Mineral, Energy
ICE October Brent dipped to its lowest level in a week then settled $2.40 lower at $113.72/barrel Monday, while NYMEX crude also fell as uncertainty over a potential US strike against Syria remained. In after-hours trade, October Brent ...
Tags: Chemicals
OPEC would need to cut production sometime in the second half of 2013 or early 2014 to stave off "a large drop in prices," Kuwait's leading bank said in a report over the weekend. In its latest economic bulletin, released late Sunday, the ...
Tags: Crude Output, Kuwait Bank
The front-month Brent/WTI spread narrowed Thursday to its lowest level in more than 20 months, dropping under $1/barrel as NYMEX crude broke above resistance levels on recent stock drops and an equities euphoria. The September Brent/WTI ...
Tags: Prompt Brent, Chemicals
US commercial crude stocks fell 9.87 million barrels to 373.92 million barrels for the reporting week ended July 5, Energy Information Administration data showed Wednesday. The latest decline marks the sharpest two-week draw in US crude ...
Tags: Crude Stocks, Crude imports
The oil complex nudged slightly higher during light trading Tuesday. Those gains were led by NYMEX August RBOB, which settled 4.23 cents higher at $2.9260/gal. NYMEX August crude settled 39 cents higher at $103.53/barrel, while ICE August ...
Goldman Sachs said earlier this week it had closed its Brent/WTI spread trade recommendation after the ICE Brent premium to NYMEX crude fell below its target of $5/b, adding short-term scope for further narrowing remained, but pipeline and ...
Tags: Chemicals, Goldman Sachs
NYMEX August crude settled $1.43 higher at $97.99/barrel Monday on Middle East tensions and as better-than-expected manufacturing data from Europe helped boost US equities. NYMEX's rise outpaced ICE August Brent's 84-cent gain to $103/b, ...
Tags: US Dollar Index
Commercial crude stocks in Cushing, Oklahoma, the delivery point for the NYMEX crude contract, dropped for the third consecutive week, hitting its lowest level yet in 2013, US Energy Information Administration data showed Wednesday. ...
Tags: Metallurgy, Mineral, Energy, oil
Oil futures accelerated a bullish climb shortly ahead of the 2:30 p.m. EDT (1830 GMT) NYMEX market settle to close Thursday sharply higher amid rising equities and a weaker dollar. ICE July Brent expired up 76 cents at $104.25/b, after ...
Tags: Oil Futures, Chemicals
NYMEX parent CME Group will likely implement additional quality specifications on its light sweet crude futures starting with the January 2014 contract, a member of the Crude Oil Quality Association's board said Thursday. CME plans to ...
Tags: Metallurgy, Mineral, Energy, Petroleum
Crude futures diverged late in the US trading day Wednesday, as the front-month ICE Brent contract slid from a session high of $104.07/b to a low of $102.85/b in a little over 40 minutes. ICE July Brent settled 20 cents lower at ...
Tags: Crude Markets, Chemicals, Brent
The oil complex pushed sharply lower late in US trade Friday, extending an overnight selloff prompted by a stronger dollar, lower equities markets and OPEC's decision to roll over its 30 million b/d output target following Friday's meeting ...
Tags: Metallurgy, Mineral, Energy, Oil
Continuing speculation about the future of the US Federal Reserve's asset-purchasing program in the wake of congressional testimony by Chairman Ben Bernanke sent the dollar sharply higher Wednesday, and augmented downward pressure on the ...
Tags: NYMEX Crude, Chemicals