Dan McTeague

International issues continue to weigh on the minds of investors, and in turn move oil prices up and down.  This week, oil prices are moving higher, thanks to the increased tensions between the U.S. and Iran.  Those tensions, and the threat of a military conflict, have pushed oil prices from $51 per barrel to $58.  This co...

International issues continue to weigh on the minds of investors, and in turn move oil prices up and down.  This week, oil prices are moving higher, thanks to the increased tensions between the U.S. and Iran.  Those tensions, and the threat of a military conflict, have pushed oil prices from $51 per barrel to $58.  This co...

Newton’s third law of motion states for every action, there is an equal and opposite reaction.  That, is a good way to describe the tug of war taking place with oil prices.  There are many indicators that should be moving oil prices higher, such as a strong global economy, strong demand, OPEC cutbacks.  But looming o...

A few moments after China announced retaliatory tariffs against the U.S., oil prices started trading lower.  Oil prices were trading around $63 to start Monday, and dropped to $60 before noon Pacific.   What’s pushing prices lower?  Dan McTeauge ...

After a slow start to 2019, oil prices have taken off.  Since Christmas WTI oil prices have increased from $42 per barrel to nearly $66 a barrel.  And Dan McTeague with GasBuddy.com said foreign producers tightening production is not the only reason oil prices have moved considerably higher over the past couple of months.   “...

The price increase we saw for oil prices last week has cooled a bit.  Dan McTeague with GasBuddy.com said oil prices were flirting with the $60 per barrel mark last week, but has slowly trickled back down to $59 a barrel.  McTeague said enjoy those lower oil prices while you can.  He note...

The price for West Texas Intermediate, the oil used by refineries in the U.S. to make gasoline, diesel and heating oil, increased over the past couple of days, up to $57 a barrel.  In a tweet Monday, President Trump called on OPEC to increase production.  Bu...

Many were concerned that sanctions against Iran put in place earlier this month were going to push oil prices higher.  In response, OPEC decided to increase oil production to help compensate.  Those sanctions against Iran didn’t squeeze oil supply, and with OPEC’s action, we now have a glut of oil on the world market.  That elevated level...

The international community continues to hold its breath a week head of sanctions against Iran.  Dan McTeague with GasBuddy.com said it’s still too early to tell what this means for oil supply on the international scene.  He said OPEC member could increase production in hopes of countering the loss of Iranian oil which could lead to a glut on the open market.  Or, “We very ...

Fuel prices typically start to fall as we transition into the cooler months of the year.  But as all year long, 2018 is anything but typical.  Oil prices are moving higher on the international stage, not because of anything currently happening, but what is yet to take place.  Dan McT...