Friday, October 16, 2009
Thursday, October 15, 2009
Gas Prices Jump after Nine Week Slump
This is an extract from http://arkansasmatters.com/content/news/fulltext?cid=262881
Reported by: Newsroom Solutions
Wednesday, Oct 14, 2009 @08:00am CDT
Some Americans might be wondering if the pain at the gas pump is making a comeback.
The nationwide average price for gasoline rose last week for the first time in nine weeks.
The national average for regular gasoline took a two-point-one-cent jump settling at $2.49 a gallon.
That average is 66 cents lower than a year ago.
In Arkansas, the average today is $2.31 a gallon.
The Energy Information Agency says as usual, the highest gasoline prices are in the West.
The stiffest price is being paid by San Francisco motorists at $3.06 per gallon.
The lowest prices for fuel are found in the Gulf Coast states and are lowest in Houston where the average is $2.24.
The Energy Department blames the higher price on higher priced crude oil which accounts for about half the cost of producing gasoline.
The West Coast also has the priciest diesel fuel averaging $2.73 per gallon.
Reported by: Newsroom Solutions
Wednesday, Oct 14, 2009 @08:00am CDT
Some Americans might be wondering if the pain at the gas pump is making a comeback.
The nationwide average price for gasoline rose last week for the first time in nine weeks.
The national average for regular gasoline took a two-point-one-cent jump settling at $2.49 a gallon.
That average is 66 cents lower than a year ago.
In Arkansas, the average today is $2.31 a gallon.
The Energy Information Agency says as usual, the highest gasoline prices are in the West.
The stiffest price is being paid by San Francisco motorists at $3.06 per gallon.
The lowest prices for fuel are found in the Gulf Coast states and are lowest in Houston where the average is $2.24.
The Energy Department blames the higher price on higher priced crude oil which accounts for about half the cost of producing gasoline.
The West Coast also has the priciest diesel fuel averaging $2.73 per gallon.
Natural Gas Prices Disregard Crude Oil Rally
This is an extract from http://www.transworldnews.com/NewsStory.aspx?id=130116&cat=12 dated 15th of Oct 2009.
Yesterday was another dismal day for the U.S. Dollar. As it fell to 2009 lows, equities and crude oil rallied. The rally started as Intel and JP Morgan released positive earnings. By the end of the day, the Dow climbed to its highest point yet in 2009, as did the November 2009 crude oil NYMEX contract as it neared $76 per barrel.
“Crude oil prices are moving upward as if demand is outpacing supply,” says Valerie Wood, President of Energy Solutions, Inc. “That’s not the case, but fundamentals don’t matter at this time. Investors are flocking to crude oil because of the weaker dollar.” In order for the trend to change, the U.S. dollar has to strengthen against other currencies, and that is unlikely to occur without some sort of intervention by the U.S. government relative to its current monetary policy.
“In the meantime, natural gas is in its own world,” says Wood. “Record level storage inventories have been a key factor in pushing natural gas prices lower. Right now, there is a lot of natural gas supply, and industrial demand isn’t yet showing signs of any significant rebound.”
Learn more about the direction of crude oil prices and natural gas prices in the October edition of The Advisor. Request your complimentary copy by sending your request to request-oct-pr15@energysolutionsinc.com or call (608) 848-9859.
Yesterday was another dismal day for the U.S. Dollar. As it fell to 2009 lows, equities and crude oil rallied. The rally started as Intel and JP Morgan released positive earnings. By the end of the day, the Dow climbed to its highest point yet in 2009, as did the November 2009 crude oil NYMEX contract as it neared $76 per barrel.
“Crude oil prices are moving upward as if demand is outpacing supply,” says Valerie Wood, President of Energy Solutions, Inc. “That’s not the case, but fundamentals don’t matter at this time. Investors are flocking to crude oil because of the weaker dollar.” In order for the trend to change, the U.S. dollar has to strengthen against other currencies, and that is unlikely to occur without some sort of intervention by the U.S. government relative to its current monetary policy.
“In the meantime, natural gas is in its own world,” says Wood. “Record level storage inventories have been a key factor in pushing natural gas prices lower. Right now, there is a lot of natural gas supply, and industrial demand isn’t yet showing signs of any significant rebound.”
Learn more about the direction of crude oil prices and natural gas prices in the October edition of The Advisor. Request your complimentary copy by sending your request to request-oct-pr15@energysolutionsinc.com or call (608) 848-9859.
Sunday, October 11, 2009
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