crude oil futures news

crude oil futures news

January 21st, 2016

Gasoline futures had earlier this week traded as low as $1.0005 — the weakest price in seven years.

But on Thursday, a weekly report from the US energy department showed domestic gasoline, or petrol, consumption was a robust 9.1m barrels per day, up nearly 600,000 b/d from a week before.

Nymex February gasoline futures rose 2.6 per cent to $1.0442 per gallon.

“The market is reacting to the weekly change in demand,” said Andy Lipow, president of Lipow Oil Associates, a consultant in Houston.

Petrol is an important indicator for the strength of the US economy. As retail prices dropped below $2 a gallon in the US, Americans have flocked to the highways and started buying more pickup trucks and bigger cars. The average fuel economy of new vehicles is down by almost a mile per gallon since mid-2014, according to the University of Michigan Transportation Research Institute.

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gasoline futures

gasoline futures

February 5, 2015

Retail gasoline in the U.S. has risen 8.4 cents in the past two days, according to Heathrow, Florida-based AAA, the largest two-day increase since March 2011. The national average hasn’t fallen since Jan. 25, when it broke a 123-day losing streak.

The spike at the pump follows a 14 percent gain in oil prices and maintenance shutdowns at refineries. Demand for gasoline is at the highest seasonal level since 2008.

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gasoline futures brokers

gasoline futures brokers

February 3rd, 2015

Gasoline Futures – That decline in fuel prices that’s given millions of consumers across America reason to cheer? It looks like it’s running out of gas.

The average per-gallon pump price for gasoline in the U.S. on Monday rose for the seventh straight day to $2.06, according to AAA. That follows 123 straight days of declines, a record, according to the motor club. Retail gasoline prices hit a nearly six-year low of $2.03 on Jan. 26.

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Gasoline Futures Prices Continue Slide

On December 30, 2014, in gasoline futures trading news, by Infinity Trading
gasoline futures prices

gasoline futures prices

December 29th, 2014

Gasoline prices fell nearly 75 cents per gallon over the past year in Western Pennsylvania, an online analyst reported Monday, as oil prices driving the discount continued to tumble.

The average price at the pump dropped 7 cents last week to an average of $2.66 per gallon, according to GasBuddy.com’s latest survey of 731 stations in the Pittsburgh region. Motor club AAA put the average price for Western Pennsylvania at $2.64 a gallon.

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gasoline futures brokers

gasoline futures brokers

December 18, 2014

U.S. drivers are paying less than $2.50 a gallon at the pump for the first time in more than five years.

Retail gasoline prices slipped to an average $2.477 a gallon last night, data from the Heathrow, Florida-based motoring group AAA showed. That’s down from this year’s peak of $3.696 in April, and the first time the average has dipped below $2.50 since October 2009.

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gasoline futures prices

gasoline futures prices

gasoline futures prices

gasoline futures prices

October 30th, 2014

The push to end a four-decade limit on exporting U.S. oil may get a boost from a government study set for release as soon as today that will explain the relationship between crude oil and domestic gasoline prices.

Supporters of lifting the ban anticipate the Energy Information Administration analysis will affirm what they suspect: that overseas sales won’t raise the price Americans pay at the pump because the price of gasoline is tied to the global oil supply.

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gasoline futures quotes

gasoline futures quotes

October 11th, 2014

Gasoline Futures – U.S. drivers are closer to seeing $3 gasoline over the holiday season than they’ve been in four years as New York-traded futures are selling for $1 a gallon below retail prices, signaling further declines at the pump.

Gasoline for November delivery settled at $2.2575 a gallon on the New York Mercantile Exchange yesterday, 98.25 cents below the pump price, according to Heathrow, Florida-based motoring club AAA. That’s the biggest gap since October 2012, which was the last time the discount topped $1. The futures, which help dictate retail costs, have dropped about 40 cents in the past two weeks while prices at the pump are down 10 cents.

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gasoline futures

gasoline futures

June 30th, 2014

Commodity Speculators boosted bets that gasoline prices will rise on prospects for the most Independence Day traffic in seven years and fighting in the Middle East.

Money managers increased net-long positions by 7.6 percent in the week ended June 24, U.S. Commodity Futures Trading Commission data show. Long positions advanced 5.5 percent and shorts fell 0.3 percent.

Americans traveling by car over the July 4th weekend will pay the most for fuel since 2008, AAA said last week. Pump prices are at the highest level for the period in six years, data from the motoring organization show. Gasoline advanced with crude this month after insurgents captured the northern Iraqi city of Mosul and advanced toward Baghdad.

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unleaded gasoline futures

gasoline futures

June 23rd, 2014

Gasoline in the U.S. climbed this week, boosted by a surge in oil, and is expected to reach the highest level for this time of year since 2008.

The pump price averaged $3.686 a gallon yesterday, up 1.2 cents from a week earlier, data posted on the Energy Information Administration’s website late yesterday show. Oil, which accounts for two-thirds of the retail price of gasoline, gained $2.49 a barrel on the New York Mercantile Exchange in the same period and $4.88 in the month ended yesterday.

The jump in crude, driven by concern that the crisis in Iraq will disrupt supplies, may boost pump prices by 10 cents a gallon at a time when they normally drop, according to forecasts including one from the EIA.

“If things deteriorate even more, the spike could be even bigger than that,” Phil Flynn, a senior market analyst at Price Futures Group in Chicago, said by telephone. “If it weren’t for the situation in Iraq, gasoline would be coming down by now. This will probably keep it elevated all summer. It’s really disappointing.”

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unleaded gasoline

gasoline futures

gasoline1gasoline1gasoline1gasoline1gasoline1May 29th, 2014

Gasoline futures climbed in New York after a tornado-damaged Louisiana refinery shut a crude unit and a government report showed U.S. inventories tumbled.

Prices rose as much as 0.8 percent. Marathon Petroleum Corp. (MPC)’s Garyville, Louisiana, plant, the nation’s third-largest, suffered damage to a cooling tower and shut a crude unit following the tornado yesterday. Motor fuel stockpiles dropped 1.8 million barrels to 211.6 million in the week ended May 23, according to Energy Information Administration data released today.

“The Garyville issue is significant because it’s one of the largest refineries in the country and there’s still no indication of how long it’s going to be down,” said Jim Ritterbusch, president of Ritterbusch & Associates LLC in Galena, Illinois. “The market tends to price in a worst-case scenario.”

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