$130 Per Barrel WTI Crude Prices May be Possible in the Coming Months

Citizens for Affordable Energy’s founder and chief executive officer Mr. John Hofmeister said that West Texas Intermediate crude oil prices may reach the $130 per barrel mark in the coming six months. Hofmeister, Royal Dutch Shell Plc’s former executive, expressed in a CNBC interview that oil demand keeps on increasing in Asia regardless of the amount of oil being consumed. As a...
read more

Increases in Oil Prices Caused by Iranian Move to Halt Several Oil Exports in Europe

Higher oil prices are coming now that Iran announced that it will stop several of its oil exports bound for Europe as a response to the organized embargo beginning July of this year. In New York, Benchmark U.S. crude prices grew by $1.08 to reach $101.82 a barrel. In London, Brent crude prices increased by $1.53 cents to finish at $118.88 a barrel. The implication of Iran’s decision to...
read more

Crude Oil Price Growth Evident in Gasoline Prices of Several US States

Based on the Fuel Gauge Report of the AAA, WTI crude oil prices recently rose by $2.24 to reach $100.91 a barrel. That rate was the first time it reached more than $100 since the month of January. Crude prices were forced higher as lawmakers of Greece permitted austerity measures that are needed for the nation to obtain the second set of bailout it need to prevent a debt default. Nationally,...
read more

Gasoline Prices Increase Despite of Low Demand and Crude Oil Costs

Gas costs keep on increasing to high levels in spite of reductions in crude oil price. Reports reflect an extremely weak demand for gasoline but refineries reduce its production in response to this that is why there is a little increase in gasoline prices. Prices of gas recently reached its highest rate in over four months at $3.50 per gallon. This cost is an increase by 3 cents from the...
read more

Dollar Gains with Lower Crude Oil Prices

Crude oil prices fell in the recent electronic trading after running a good record for three days due to the strong dollar and the weak stock indexes of the U.S. that pointed toward a possibly low Wall Street opening. Crude futures for delivery in March dropped by 0.4% or 37 cents to end at an oil price per barrel of $99.47. In the recently held regular session of the New York Mercantile...
read more