Hi to all,
Here’s what I have
for this week’s price changes:
*Heating and stove
oils show an increase of 1.3 cents a litre.
*Diesel fuel shows
an increase of 2.2 cents a litre, and...
*Gasoline shows no
changes at the pumps this week.
Market highlights
Gasoline remained
relatively steady even as refined gasoline showed gains in U.S dollar terms,
there was enough gain by the Canadian dollar these past two weeks to absorb any
increase this week to prices.
However, a sharp rise in gasoline prices today on the New York exchange does
lead me to believe that numbers will be up slightly, all contingent on U.S
inventory data that is due out tomorrow.
Right now, gasoline shows up for next week by 1.7 cents. Stay tuned for
next Tuesday’s release!
Crude oil turns
higher
Crude oil prices
were supported this week on two main stories, the first centering around the
possible disruption of exports from Ceyhan, Turkey as infighting continues
around Iraq’s major northwest oil fields control. That leaves a struggle
between Kurdish and Iraqi forces for control of the northwestern located oil
fields immediately ahead of a referendum seeking Kurdish independence. Turkey
is threatening to close the pipeline if the vote goes ahead.
Word from OPEC also
this week that saw some support for oil as they claim that OPEC-led cuts last
year are beginning to bite into world supply. OPEC claims that cuts are
dropping ahead of some uptick in demand from countries like China.
That’s it for this
week!
Regards,
George Murphy
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