Oil markets finished higher again yesterday continuing the current upward trend. At the close of the session, WTI crude closed up $0.31/bbl to close at $69.61. RBOB and HO also closed higher by $0.0392/gal and $0.0257/gal to finish at $2.1623/gal and $2.1769/gal respectively.
All three oil market indexes finished higher yesterday as the upcoming Iranian oil export sanctions offset the bearish news of Saudi Arabian and Russian output numbers. At the close, WTI crude closed up $2.45/bbl at $70.53/bbl while RBOB and HO also closed higher by $0.0231/gal and $0.0286/gal finishing at $2.0746/gal and $2.1290/gal respectively.
Oil markets finished higher yesterday as they continued to factor in any impact the Iranian sanctions and Venezuelan declining output may have. All three indices closed firmly in the green. WTI crude closed up $1.48/bbl at $68.21/bbl while RBOB and HO also closed higher by $0.0401/gal and $0.0458/gal finishing at $2.1842/gal and $2.2317/gal respectively.
The oil market finished mixed yesterday on the heels of the latest Energy Information Administration’s (EIA) inventory report. As a headline from Reuters stated, “U.S. oil inventories up unexpectedly.” Details of the report were as follows:
Oil prices finished lower yesterday across the majors in the energy sector after the government reported a surprise build in U.S. crude stockpiles. Yesterday’s session saw WTI crude oil down $0.87/bbl to close at $64.38/bbl. RBOB and HO also settled lower by $0.0019/gal and $0.0076/gal finishing at $2.0116/gal and $2.0148/gal respectively. The Energy Information Administration’s weekly stats are summarized as follows: