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As oil prices continue to fall, the demand for gas has stayed unusually low, according to the U.S. Energy Information Administration. Data from the organization’s Weekly Petroleum Status Report ...
Oil prices are currently over $100 a barrel, Bloomberg reported, but even if the price drops, there will be a delay until this drop is reflected in the price of gas.
US crude futures have gained 20% this year and pushed energy stocks to outperform the market as rising geopolitical tensions and lower supply buoy prices.
The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil —a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil, Isthmus, and Western Canadian Select (WCS). [1] [2] Oil prices are determined by global supply ...
Brent is the leading global price benchmark for Atlantic basin crude oils. It is used to set the price of two-thirds of the world's internationally traded crude oil supplies. It is one of the two main benchmark prices for purchases of oil worldwide, the other being West Texas Intermediate (WTI) .
The Bloomberg Commodity Index ( BCOM) is a broadly diversified commodity price index distributed by Bloomberg Index Services Limited. The index was originally launched in 1998 as the Dow Jones-AIG Commodity Index ( DJ-AIGCI) and renamed to Dow Jones-UBS Commodity Index ( DJ-UBSCI) in 2009, when UBS acquired the index from AIG. [1] [2] On July 1, 2014, the index was rebranded under its current ...
Experts also point to cooling oil costs. Prices at the pump are highly dependent on crude oil, which is the main ingredient in gasoline.
Why the recent fall in prices at the pump? Industry analysts point to a blend of lackluster demand and strong supply — as well as relatively mild oil prices worldwide. Here's a rundown of what you need to know. Today's falling gas prices, explained. There are a few factors contributing to today's falling gas prices.