Thread: Oil Slick Stuff

Oil Falls On Supply Growth, US Crude Drops To 16-Month Low

by Reuters
Robert Gibbons
Wednesday, September 10, 2014
NEW YORK, Sept 10 (Reuters) - U.S. crude futures fell to a 16-month low and Brent to a 17-month low on Wednesday on rising supply and tepid demand as OPEC lowered projected demand for its crude and data showed U.S. refined product stocks jumped.
U.S. futures fell two cents below its previous 2014 low from January after Wednesday's report from the Energy Information Administration of a near 1 million barrel drop in U.S. crude stocks last week, a slightly smaller fall than expected.
Crude oil inventories at Cushing, Oklahoma, the delivery point for the U.S. crude oil contract traded on the New York Stock Exchange, rose by 77,000 barrels and gasoline and distillate stocks jumped by 2.4 million and 4.1 million barrels respectively

- See more at: RIGZONE - Oil Falls On Supply Growth, US Crude Drops To 16-Month Low

• National Average Prices

Prices updated as of 9/11/2014 3:45am

	Regular	Mid	Premium	Diesel
Current Avg.	$3.422	$3.619	$3.792	$3.793
Yesterday Avg.	$3.428	$3.625	$3.798	$3.795
Week Ago Avg.	$3.432	$3.630	$3.802	$3.801
Month Ago Avg.	$3.478	$3.678	$3.849	$3.824
Year Ago Avg.	$3.558	$3.730	$3.892	$3.947

AAA's Daily Fuel Gauge Report

No Rebound In Sight For Sliding Oil Prices

By Nick Cunningham | Thu, 11 September 2014

Global oil prices have slid in recent weeks, a trend that shows no signs of changing in the immediate future.
The two main benchmarks for oil prices, Brent and WTI, hit their highest levels so far this year in June amid the initial onslaught in Iraq of the Sunni jihadist group Islamic State of Iraq and Syria (ISIS). Fears that the militant group would seize Iraqi oil fields pushed up prices.
Brent crude has now dipped below $100 per barrel, for the first time in over a year. WTI is trading around $92 per barrel, a 16-month low.
Prices have dropped for a few reasons.
ISIS’s advance has come to a halt and fears that Iraq’s oil production would be affected have abated.
Libya has brought some of its oil back online, with August production averaging around 538,000 barrels per day (bpd) -- more than double its average daily production from June. Libya’s National Oil Corporation says that production is now topping 800,000 bpd and could exceed 1 million bpd in October.
U.S. oil production also continues to rise. In June, the U.S. produced 8.5 million bpd, an increase of 500,000 bpd since the beginning of the year. Higher production continues to cut into imports, leaving greater supplies on the global market.
Perhaps most importantly, global demand has been surprisingly lackluster. The latest data from the U.S. Energy Information Agency (EIA) shows that refined product (gasoline, for example) inventories are increasing – an indication that production is overwhelming consumption. [more]
No Rebound In Sight For Sliding Oil Prices

E10 down to $3.12 [average] in BPGA!

Study: Leaky Wells, Not Fracking, Taint Water

by The Associated Press
|
Seth Borenstein
|
Monday, September 15, 2014

- See more at: RIGZONE - Study: Leaky Wells, Not Fracking, Taint Water

E10 still averaging $3.12 in BPGA!

Around me 87 octane at $3.17 per gallon.

That's not too bad for OHIO!!

Originally Posted by nnuut

That's not too bad for OHIO!!

Not bad considering that it was almost $4.00 earlier in the year.

Still holding at $2.99 here in Cushing country

Seen a $2.95 today at another station, not my usual monitor station, which is till at $2.99