Price At The Pump: More Questions Than Answers

Oil prices didn’t move much over the holiday weekend, with West Texas and Brent Crude both trading slightly higher in early Tuesday trade;  WTI was trading around $60 per barrel, while Brent was just over $65 a barrel.

One of the big questions facing the fuel industry, is what kind of impact Venezuela will have on what consumers pay at the local station.  Over the weekend, CBS News reported the Trump administration had completed the first sale of Venezuelan oil to the U.S., a shipment reportedly valued at $500 million.  It's part of the administration's push to tap into Venezuela's oil reserves, some of the largest in the world.

What does that mean for what American consumers will pay at the pump, economists remain split on what the future holds in store.

In addition, unrest continues in Iran as protestors continue to demonstrate against the government.  While the exact number is not known, some estimate says up to 12,000 demonstrators have been killed over the past couple of months.

What that means for Iranian oil into the future, again, only time will tell.

Remember to join us Tuesday mornings during Northwest Ag Today for your PNW Ag Network Price at the Pump.

If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail glenn.vaagen@townsquaremedia.com