Month: July 2018

As U.S. gasoline demand strengthened and supply declined, the national gas price average jumped two-cents on the week to land at $2.86. According to the latest Energy Information Administration (EIA) report, total crude inventories fell on the week and now register at 405 million bbl,…Read more »

For the week ending on July 20, total crude inventories fell by 6.2 million bbl after growing by nearly the same amount during the previous week. According to the Energy Information Administration (EIA), stocks around the country now total 404.9 million bbl, which is almost 80…Read more »

Volatility is the trend for July gas prices as the rate for crude oil rises and drops amid lingering geopolitical concerns. In the U.S., the first half of the month saw pump prices increase from $2.85 to $2.89, while the second half is proving cheaper…Read more »

At 11 million b/d, total crude production in the U.S. hit a new milestone last week – its highest rate ever recorded since the Energy Information Administration (EIA) began reporting its data. Crude production has been well over 10 million b/d most of this year,…Read more »

Since July 4, gas prices have increased three cents, putting today’s national average at $2.88. Since last Monday, the average is just a penny more expensive nationally while some states are seeing nearly a dime jump, including Delaware, Florida and Michigan. “Typically during July, gas…Read more »

Total crude oil stocks fell an astonishing 12.7 million bbl last week. The Energy Information Administration (EIA) has not recorded a decline of that size since October 2016. EIA data measures stocks at 405.2 million bbl, which are roughly 90 million bbl lower than they…Read more »