On September 17th I wrote about “Relief at the Pumps,” talking about lower gas prices are on the way. Since then retail gas prices have moved higher. In Pittsburgh, PA 87 grade Unleaded gasoline prices are now averaging $3.15 per gallon with a high of $3.239.
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Oil markets finished higher again yesterday continuing the current upward trend. At the close of the session, WTI crude closed up $0.31/bbl to close at $69.61. RBOB and HO also closed higher by $0.0392/gal and $0.0257/gal to finish at $2.1623/gal and $2.1769/gal respectively.
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Oil markets finished higher yesterday as they continued to factor in any impact the Iranian sanctions and Venezuelan declining output may have. All three indices closed firmly in the green. WTI crude closed up $1.48/bbl at $68.21/bbl while RBOB and HO also closed higher by $0.0401/gal and $0.0458/gal finishing at $2.1842/gal and $2.2317/gal respectively.
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On May 22nd WTI Crude nearly reached $73 / barrel and since then prices have dipped almost 10%.
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The US economy is growing and so is the population, both of which are leading freight companies of all types to see increased growth in the number and weight of goods shipped around the country. Truck load (TL) freight volumes increased 2.8% in 2017 over 2016 which is far higher in comparison to 2016 versus 2015. […]
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“If the best minds in the world had set out to find us the worst possible location in the world to fight this damnable war, the unanimous choice would have been Korea.”
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The oil market finished mixed yesterday on the heels of the latest Energy Information Administration’s (EIA) inventory report. As a headline from Reuters stated, “U.S. oil inventories up unexpectedly.” Details of the report were as follows:
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The eyes of the world are once again gazing unto the “twitter-verse” as world leaders turn to the online news and social networking platform to discuss the Iran nuclear deal and OPEC.
Read MoreWe suggested higher gasoline prices were coming along with spring…
Read MoreWTI crude oil prices have risen more than $2.5 per barrel in the past 48 hours on a duo of bullish news.
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