Hi to
all,
Here's what I have for this week's price changes:
*Heating and stove oils to drop by 8/10ths of a cent a litre.
*Diesel to drop by 1.1 cents a litre, and...
*Gasoline to increase by 1.6 cents a litre.
*Diesel to drop by 1.1 cents a litre, and...
*Gasoline to increase by 1.6 cents a litre.
Market
highlights
OPEC meetings in Oman
News out of Oman this evening that must put a smile on the faces of anyone dealing in Middle East commodities as OPEC members are agreeable to continuing their production cuts well past 2018.
The cuts by OPEC producers were supposed to expire in 2018, but members are now in agreement that "much more needs to be done" to help bring the oil markets back to balance, and that their cuts seem to be bringing some redress to that end.
News out of Oman this evening that must put a smile on the faces of anyone dealing in Middle East commodities as OPEC members are agreeable to continuing their production cuts well past 2018.
The cuts by OPEC producers were supposed to expire in 2018, but members are now in agreement that "much more needs to be done" to help bring the oil markets back to balance, and that their cuts seem to be bringing some redress to that end.
API report shows a build
The American Petroleum Institute reported a build in inventories of both oil and gasoline products after today's market close, but the real news will probably come in tomorrow's US EIA inventory report noon Wednesday.
The API reported a build of 4.7 million barrels, while gasoline showed a build of 4.1 million barrels.
The inventory report was enough to temper gains in oil prices in aftermarket trading.
The American Petroleum Institute reported a build in inventories of both oil and gasoline products after today's market close, but the real news will probably come in tomorrow's US EIA inventory report noon Wednesday.
The API reported a build of 4.7 million barrels, while gasoline showed a build of 4.1 million barrels.
The inventory report was enough to temper gains in oil prices in aftermarket trading.
That's it for this week!
Regards,
George Murphy
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