Despite the volatility involved in investing in commodities and the energy market, the United States Gasoline Fund has recently proven adept at tracking gasoline prices.
Articles Tagged "gasoline"
Bloomberg reports that Crude oil, heating oil and gasoline advanced more than 1 percent.
Even as investors are mulling mixed signals over crude supply numbers from the Energy Information Administration, there are clear indications that the Gulf state leaders have no plans to stop pricing oil in dollars. The rumour had traders hitting the panic button.
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
After falling from $147 to $35 per barrel towards the end of last year, crude oil has once again gained and touched $45 per barrel on speculation that China's stimulus plan may spur demand for the commodity near term. However, some experts are of the view that this is not just speculation but real purchases driving the prices up.
Along with OPEC production cuts and healthy company numbers, (both discussed below) the market is clearly disjointed. The tenor of discussions in the business pages and networks lately suggests that Yeats was right, and the centre cannot hold. Recession or recovery, echo boom or bust, few are predicting prolonged instability somewhere between these extremes.
Crude oil was steady after gaining yesterday as a government report showed decline in U.S. gasoline inventories for a fourth week. Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts, said: It looks like wholesalers are finally taking deliveries of gasoline after putting them off because of the record prices last month. For more information, [...]
For the first time since late May, the average price of a gallon of regular unleaded gasoline in Oregon dipped below $4. For more information, click here
Gasoline prices declined by another 7 cents last week in Texas as the average price for a gallon of gasoline dropped below $3.74 a gallon. AAA Texas Corporate Communications Manager Dan Ronan said: As the price of crude oil continues to drop, drivers nationwide and in Texas are beginning to really see the benefits. Prices [...]
As election is nearing, Gore flip-flopped his comments. Eight years ago, Al Gore said that dipping into the nation’s Strategic Petroleum Reserve as a way to lower gasoline and heating oil prices would be foolhardy. Recently, Gore called for a raid on the nation’s crude oil reserves established as a backup for national emergencies. For [...]