World Oil (Bloomberg) — Canadian heavy crude prices have collapsed relative to futures prices because of high refining costs rather than the pipeline bottle necks that have plagued the industry in the past, according to a Toronto-based analyst. Western Canadian Select discount to the benchmark West Texas Intermediate grew to more than $20 barrel on Friday, the widest since November,
CNBC Retail diesel and gasoline prices climbed to another record high Thursday, as rampant inflation sends costs across the economy surging. The national average for a regular gallon of gasoline hit $4.418 on Thursday, according to AAA. The price is not adjusted for inflation. Prices had previously hit all-time highs on Tuesday and Wednesday. Consumers are now paying 32 cents per
Reuters Oil prices fell on Wednesday after US crude oil stockpiles rose more than expected, even as fuel inventories dropped and tanks at the nation’s largest storage hub emptied further. The bigger-than-expected rise in US crude stocks gave some investors an impetus to unload long positions after strong gains in recent weeks brought both the Brent and US crude benchmarks
Reuters LONDON – Oil prices rose on Monday, extending last week’s gains as traders anticipated coronavirus vaccine trials would spur a recovery in demand. Sentiment was also bolstered by expectations that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, would extend a deal to restrain output. Brent crude rose 58 cents
Reuters LONDON- Oil prices rose on Thursday on expectations the world’s leading crude producers will at a meeting later in the day overcome obstacles that have so far prevented a deal to cut output in response to a collapse in global demand. Brent crude LCOc1 futures were up 3.9%, or $1.28, at $34.12 a barrel by 1340 GMT after hitting
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