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Nobody may be happier to see the month of September come to an end than oil investors.  Oil prices experienced a volatile month, with prices all over the map, wrapping up the month below the $70 per barrel mark.  And those prices may continue to move lower, as OPEC looks at resorting oil production levels.   So, why wo...

The Federal Reserve cut interest rates by a half a point last week, which was a little larger than some economists had expected.  With that reduction, oil prices moved higher in trade, spending much of the past week in the mid $70 per barrel range.  Pa...

Oil prices for much of the month of September have edged down slightly, but steadily.  Patrick DeHaan with Gasbuddy.com says right now, the balance of the global economy is driving oil prices.   “Weakness in China has long overshadowed oil driving oil prices. In the last week do...

Oil prices continue the downward slide, falling to the lowest levels since 2021.  Patrick DeHaan with Gasbuddy.com said prices, now below $70 per barrel for West Texas Crude, have been welcomed relief for drivers and consumers.   “By all metrics, oil prices being down has been good for gasoline and diesel prices, which both stand at the lowest levels in some time.”   DeHaan not...

Oil prices continue to shed the gains they saw in late July.  A barrel of West Texas Crude dropped roughly $2 in the past week, and is now sitting below $75 per barrel.  Patrick DeHaan with GasBuddy.com said the past couple of weeks have been a bumpy ride for oil.   “There's b...

To say oil prices have been volatile to start the month of August may be a bit of an understatement.  After dropping notably, oil prices rallied in the past week to nearly $80 per barrel.   “Week before last, we saw a better than expected jobless figure that added to concerns that potentially we wouldn't see the Fed cut interest rates," noted Patrick DeHaan is with GasBuddy.com.  "And th

After a few weeks of moving higher, oil prices appear to have hit a celling. Patrick DeHaan with GasBuddy said thanks to an increase in the number of COVID-19 cases, oil prices have held steady around $40 per barrel for the last three weeks ...

A week after oil prices dropped into negative territory for the first time, West Texas has rebounded, slightly. As of Monday, WTI was trading at $13 per barrel. Patrick DeHaan said as over the past couple of weeks, the main culprits when it comes to pushing oil prices lower remain; coronavirus, Saudi Arabia and Russia ...

Despite this week’s oil production cuts, oil prices remain very low. As of Monday, West Texas Crude was trading around $25 a barrel. While OPEC has agreed to trim nearly 10 million barrels a day to stabilize the market, Patrick DeHaan with Gas Buddy says there’s a lot of skepticism on this deal. “Ke ...

Oil prices, much like the rest of the world economy has been struggling as of recent. Allison Mac with GasBuddy.com said the coronavirus continues to greatly slow the China and now world economy, leading to a glut of oil. On top of that, over the weekend, Saudi Arabia and Russia could not see eye to eye on production, so the two countries started a price war ...