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Oi price continue their slow march higher, trading Monday around $82 per barrel, the highest prices since April 2020. Patrick DeHaan with GasBuddy says oil production is lagging far behind demand. “Certainly not helped by the energy crunch that’s happening overseas.  China is ...

West Texas crude traded higher in Monday’s action, shortly after OPEC announced plans that the oil producing group will stick with its initial plan to increase production by 400,000 barrels per day starting next month. Many experts has hoped OPEC would increase production to alleviate some of the growing pressure thanks to increased demand. Bec ...

While the pandemic continues to grab headlines in the U.S. and internationally, it’s improving economic conditions that have the eyes of oil investors. According to Gasbuddy’s Patrick DeHaan, oil prices continue to move higher, trading near 2021 highs in Monday’s action, with a barrel of West Texas Crude trading for over $75. DeHaan says the ...

Oil prices dropped roughly  2% in Monday's trade, as investors decided become a little more conservative, which not only hurt stock markets but also strengthened the the U.S. dollar, making oil more expensive for holders of other currencies. We ...

Oil prices rallied a bit in Monday trading, increasing roughly 1%. Patrick DeHaan with Gas Buddy said a variety of issues pushed prices higher, including an ongoing increase in coronavirus cases across the globe, shutdowns in the Gulf Coast rejoin due to hurricane Ida, as well as China’s decision to tap into their Strategic Petroleum Reserve. DeH ...

The "new norm" that we saw in 2020 has continued for most, if not all of 2021. COVID-19 case counts continue to dictate where oil prices move, and while demand for oil has rebounded from the lows we saw last year, along with oil prices, “Oil production is lagging behind the recovery and demand and that may continue to be the case for the weeks and months ahead.  And ...

After a considerable sell off late last week, that saw oil prices drop to their lowest levels since May, the price of a barrel of oil climbed Monday to roughly $65. Patrick DeHaan with GasBuddy noted the sell off last week was spurred by a one two punch; rising COVID cases and OPEC increasing oil production ...

Oil prices, much like many of the U.S. investment markets, moved lower Monday, with West Texas Crude dropping to around $65 per barrel, an over 4% drop in one day. Much of the concern, according to Scott Bauer with Prosper Trading Academy is China, and the ongoing struggles with the coronavirus ...

Oil prices trade lower in Tuesday’s action, with West Texas Crude prices in the mid-$71 per barrel range. Industry experts say a trio of specific pressures are weighing oil prices lower right now. First in the increase in the number of COVID-cases, thanks to the Delta variant concerns many that the global economy will stall in the coming months. I ... Read More ...