News Oil 

Americans value a free gas fill-up over a cash giveaway — but that’s no comfort to risk-averse investors

“Still, gas is subject to the whims of prices for crude oil, from which it is derived, and spikes in prices can become burdensome for consumers and investors” writes Markets Commodities Reporter for marketwatch.com. Regular unleaded gasoline prices on Friday morning averaged $2.302 a gallon at the pump — about 10% below the year-ago level, according to GasBuddy.MPC, +1.48% And, looking at the bigger picture for gasoline prices, they may end up being a bit cheaper at the retail level this year than last.Volatile prices make gasoline a particularly risky…

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Markets News Oil 

Oil heads for weekly rise of about 5% as U.S.-China trade talks progress, crude supplies tighten

“The oil field has capacity to produce more than 1 million barrels of oil a day” writes Markets Commodities Reporter for marketwatch.com. U.S. benchmark March West Texas Intermediate crude oil CLH9, +2.17% rose $1.03, or 1.9%, to $55.44 on the New York Mercantile Exchange.Week to date, WTI prices trade around 5.1% higher, while Brent was looking at a rise of 5.6%, based on FactSet data.Oil futures gained Friday, buoyed by signs of tighter global supplies and progress in trade talks between the U.S. and China, padding what will be a…

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News Oil 

The Energy 202: EPA plan to rid drinking water from toxic chemicals sparks divisions in Washington

“The Greenpeace report also calls out technology companies, Amazon Web Services in particular, for needing to do more to push for renewable energy sources” writes February At Am for washingtonpost.com. But the agency isn’t setting that limit just yet because, according to Ross, it wants to make sure any new rules will be defensible in court. Source: washingtonpost.com

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News Oil 

Cost of imported goods fall for third straight month, offering more evidence of waning inflation

“The drop in imported oil prices and other foreign goods is also lending a helping hand” writes Jeffry Bartash for marketwatch.com. What happened: The cost of imported fuel decreased 3.2% in January and it’s fallen 22.5% in the past three months.Lower oil prices once again played a big role in the declining cost of imports, but the price of a variety of consumer and industrial goods also fell. Source: marketwatch.com

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News Oil Reviews 

Oil Daily Review February 15, 2019

Oil Daily Review for February 15, 2019 Oil Risks Range-Bound Prices as Bullish Series Snaps The failed attempt to test the monthly-high ($55.75) may generate range-bound conditions for crude as oil prices snap the bullish series from earlier this week.   WTI Crude Oil and Natural Gas Forecast February 15, 2019 The WTI Crude Oil market initially pulled back during the day on Thursday but found enough support near the $53 level to turn around and form a bit of a hamm…   Saudi Aramco halts oil output at the…

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News Oil 

BP warns war on plastic will help cut global oil demand

“The oil major predicted a peak in global oil demand for the first time last year, and in its latest outlook report warned that a crackdown on plastic waste, which is made from fossil fuels, could play a role in slowing oil demand” writes Ben Marlow for telegraph.co.uk. The war on single-use plastics could cut demand for oil faster than previously expected over the next two decades, BP has warned.BP expects demand for oil to rise 0.3pc a year before plateauing in the 2030s.The “much slower” growth forecast is well below…

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News Oil 

How To Navigate the Confusing Task of Picking the Right Motor Oil

“Evaporation of the base oil package not only increases oil consumption, it results in thicker oil (which decreases fuel economy)” writes Paul Weissler for popularmechanics.com. Given all the motor oil options out there, choosing the right oil for your car might seem like an impossibly daunting task.What’s really important is that you use the oil viscosity your car’s owner’s manual recommends.The base oil package in any oil makes up anywhere from 70 to 95 percent of the mix, the rest comprised of additives.Unlike antifreeze, 95 percent of which is made…

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News Oil Reviews 

Oil Daily Review February 14, 2019

Oil Daily Review for February 14, 2019 Oil and gas stocks in broad rally; crude prices jump on reports of supply cuts Shares of oil and gas companies were broadly higher Wednesday, as reports of supply cuts and optimism on U.S.-China trade talks helped fuel a rally in   Oil prices hold gains after EIA reports a bigger-than-expected rise in U.S. crude supplies The Energy Information Administration reported Wednesday that domestic crude supplies rose by 3.6 million barrels for the week ended Feb. 8. That was   WTI Crude Oil…

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Gasoline prices began to rise this week, the federal government reported Wednesday, as U.S. Gulf of Mexico refineries continued to be disproportionately affected by crude oil supplies from Venezuela lagging in response to U.S. sanctions.

“Oil prices went up on Tuesday by over a dollar on the heels of sanctions, even as EIA reported that oil inventories remained high” reports washingtonexaminer.com. Gasoline prices began to rise this week, the federal government reported Wednesday, as U.S. Gulf of Mexico refineries continued to be disproportionately affected by crude oil supplies from Venezuela lagging in response to U.S. sanctions.Still, the main driver of fuel costs is crude oil prices, she added.Hannah Breul, EIA’s lead petroleum analyst, told the Washington Examiner that fuel prices always rise a little in…

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