Fuel Flash – October 2019

September had a volatile period for oil prices following a relatively stable stretch for most of August.  The month opened with prices near $55 per barrel but sharply increased to over $62 during mid-September.  Shortly after the spike, prices quickly fell back to the mid-$50’s and remained in that range.  By the end of the month, prices closed just over $54, roughly where the month began.  The following graph shows the daily price movements over the past three months: In

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Fuel Flash – September 2019

August opened with oil prices just over $58 per barrel but they fell sharply during the first week of the month.  By the 7th of the month, prices hit their lowest point at $51 and then started to rebound.  For the remainder of the month, prices traded in a narrow range near $55 which is where the month finally closed.  The following graph shows the daily price movements over the past three months: Within a few days following the start

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Fuel Flash – August 2019

The month of July opened with oil prices approaching $60 per barrel.  By the 10th of the month, prices climbed slightly over $60 and remained at that level for a few days.  However, prices fell back to the mid-$50’s as the second half of the month started.  Prices subsequently traded in a narrow range near $56 during the last 10 days of the month but finally closed the month over $58.  The following graph shows the daily price movements over

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Fuel Flash – July 2019

Oil prices hovered near $53 per barrel for most of June, then quickly increased toward $60 during the last 10 days of the month.  Prices closed the month at over $58 after increasing $5 during late June, or 9%.  Overall, prices are up almost 30% since the start of the year.  The following graph shows the daily price movements over the past three months: The start of June followed a significant decline in oil prices during the last week of

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Fuel Flash – June 2019

Oil prices traded in a narrow range near $62 per barrel for most of May, then quickly fell back to the high-$50’s on May 23rd.  Prices collapsed even further at the end of the month, closing May at $53.50.  Overall, prices fell by 16% during May but are still up by 13% since the start of the year.  The following graph shows the daily price movements over the past three months: Despite ongoing tensions in the Middle East, the stage

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Fuel Flash – May 2019

During the first half of April 2019, oil prices traded in a narrow range in the low $60’s per barrel, then started rising to a recent high just over $66 on April 23rd but fell below $64 by the end of the month.  Prices increased by almost 6% during April and are up by 37% since the start of the year.  The following graph shows the daily price movements over the past three months: The increase during the third week

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Fuel Flash – April 2019

During March 2019, oil prices traded near $56 per barrel for the first half of the month.  Near the middle of the month, prices quickly jumped over $58.  For the remainder of the month, prices traded in a narrow range near $59 and managed to close just over $60 by the end the month.  Overall, prices rose by 5% during March and have increased by approximately 33% during the first quarter of 2019.  The following graph shows the daily price

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Fuel Flash – March 2019

During February 2019, oil prices traded in a narrow range during the first 10 days, then began climbing for the remainder of the month.  Prices opened the month at just under $54 per barrel and closed at just over $57, a 6% increase.  The following graph shows the daily price movements over the past three months: The overall increase in prices during February was primarily caused by news that the US and China were making progress in negotiations to resolve

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Fuel Flash – February 2019

As 2019 got underway, fuel prices started to rebound after rapidly declining during the fourth quarter of 2018.  January prices opened the month at just over $45 per barrel and closed at just under $54, a 16% increase.  The following graph shows the daily price movements over the past three months: The rebound in prices was primarily caused by the announcement in December from OPEC and Russia that they would reduce production in early 2019 to help support prices.  Shortly

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Fuel Flash – January 2019

For the third consecutive month, crude oil prices continued their steady decline throughout December.   Prices closed the month at just over $45/barrel which is 14% lower than the start of the month.  Prices have fallen by an extraordinary 40% compared to their recent high of $76 at the beginning of October.  The following graph shows the daily price movements over the past three months: Reflecting further back, the graph below shows how prices moved over the past two years.  It

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