xcel
11-20-2009, 03:35 PM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg Crude inventories are coming back in line with natural supply/demand norms. (cleanmpg.com/forums/showthread.php?p=242717)
http://www.cleanmpg.com/photos/data/501/Gas_price_at_2_96.jpgWayne Gerdes - CleanMPG (cleanmpg.com) - Nov. 20, 2009
Californian’s receive a little break with an average price for a gallon of regular unleaded at $2.96.
Crude Oil
Oil prices fell for the second straight day amid the US dollars rise as speculators moved to the sidelines with renewed doubts about a sustainable global economic recovery.
NYMEX Crude oil futures closed at $77.71, down $0.34 this afternoon with US economic activity driving this weeks trading. As has been the standard routine for almost 4 weeks running, a run though the $80 per barrel price target was achieved and failed earlier in the week with the new $75 - $80 per Barrel price range maintaining their stranglehold on the crude oil market.
Government data released Thursday showed that the seasonally adjusted number of new unemployment claims in the week ending Nov. 14 remained at 505,000. With stubborn unemployment comes stubbornly slack demand.
From a more direct fundamental nature, crude oil stocks fell by over 900,000 barrels with 336.8 million barrels available. This is the first time since January that the nation’s crude stockpile has fallen within seasonal norms.
Gasoline
Gasoline prices fell for the second consecutive week with the average price for a gallon of regular unleaded slipping four cents to $2.63 per gallon.
Prices declined in all regions of the country with Gulf Coast states experiencing the lowest prices falling three cents to $2.50 per gallon.
Midwesterners finally get a break with nearly a seven cent decline to $2.54 per gallon.
The West Coast average dropped a penny to $2.89 per gallon with Californian’s taking the brunt albeit down 2 cents to $2.96 per gallon.
Diesel
The national average price for a gallon of diesel fell a cent to $2.79 per gallon.
Except for the Rocky Mountain states, the average price fell in regions by about a penny. Despite the declines, the Midwest and the West Coast are still paying higher prices today then they were a year ago.
Californian’s are paying the same for gasoline as diesel with a $2.96 per gallon average at the pump. This is as it should be given RBOB gasoline and Home Heating Oil closed within .3 cents of one another on the NYMEX this afternoon.
Natural gas
On the Natural gas front, prices have dropped by more than 12 percent in the past month as a moderate November allowed homeowners to forgo heating in many cases.
A welcome sign for the struggling US consumer is that Natural gas prices have fallen to almost half of what they were last year. The U.S. has more natural gas in storage than at any point in history leading to hopefully even lower future pricing as the winter home heating season kicks in according to the Energy Information Administration.
Home Heating Oil
Residential heating oil prices fell during the period ending November 16 with the average price falling 0.3 cents per gallon to reach $2.74 per gallon. Wholesale heating oil prices dropped 1.6 cents per gallon to reach $2.04 per gallon according to the EIA.
http://www.cleanmpg.com/photos/data/501/Gas_price_at_2_96.jpgWayne Gerdes - CleanMPG (cleanmpg.com) - Nov. 20, 2009
Californian’s receive a little break with an average price for a gallon of regular unleaded at $2.96.
Crude Oil
Oil prices fell for the second straight day amid the US dollars rise as speculators moved to the sidelines with renewed doubts about a sustainable global economic recovery.
NYMEX Crude oil futures closed at $77.71, down $0.34 this afternoon with US economic activity driving this weeks trading. As has been the standard routine for almost 4 weeks running, a run though the $80 per barrel price target was achieved and failed earlier in the week with the new $75 - $80 per Barrel price range maintaining their stranglehold on the crude oil market.
Government data released Thursday showed that the seasonally adjusted number of new unemployment claims in the week ending Nov. 14 remained at 505,000. With stubborn unemployment comes stubbornly slack demand.
From a more direct fundamental nature, crude oil stocks fell by over 900,000 barrels with 336.8 million barrels available. This is the first time since January that the nation’s crude stockpile has fallen within seasonal norms.
Gasoline
Gasoline prices fell for the second consecutive week with the average price for a gallon of regular unleaded slipping four cents to $2.63 per gallon.
Prices declined in all regions of the country with Gulf Coast states experiencing the lowest prices falling three cents to $2.50 per gallon.
Midwesterners finally get a break with nearly a seven cent decline to $2.54 per gallon.
The West Coast average dropped a penny to $2.89 per gallon with Californian’s taking the brunt albeit down 2 cents to $2.96 per gallon.
Diesel
The national average price for a gallon of diesel fell a cent to $2.79 per gallon.
Except for the Rocky Mountain states, the average price fell in regions by about a penny. Despite the declines, the Midwest and the West Coast are still paying higher prices today then they were a year ago.
Californian’s are paying the same for gasoline as diesel with a $2.96 per gallon average at the pump. This is as it should be given RBOB gasoline and Home Heating Oil closed within .3 cents of one another on the NYMEX this afternoon.
Natural gas
On the Natural gas front, prices have dropped by more than 12 percent in the past month as a moderate November allowed homeowners to forgo heating in many cases.
A welcome sign for the struggling US consumer is that Natural gas prices have fallen to almost half of what they were last year. The U.S. has more natural gas in storage than at any point in history leading to hopefully even lower future pricing as the winter home heating season kicks in according to the Energy Information Administration.
Home Heating Oil
Residential heating oil prices fell during the period ending November 16 with the average price falling 0.3 cents per gallon to reach $2.74 per gallon. Wholesale heating oil prices dropped 1.6 cents per gallon to reach $2.04 per gallon according to the EIA.