Fuel Flash – September 2020
During August, oil prices continued trading in a very narrow range but did achieve a small gain, starting the month at $41 and closing near $43 per barrel. The following graph shows the daily price movements over the past three months: Significant uncertainty about the economy due to the virus’ impact has persisted for several months which has limited movement in prices. In addition to oil’s stagnancy, overall average wholesale and retail prices for August were flat compared to July.