An unexpected sequence of events is unfolding right before our eyes. Oil prices, which usually climb to record highs during cold weather, continue to drop, even now. At the moment, price for natural gas, which was once considered an affordable alternative to oil, is climbing, while price of oil continues to drop. This data was recorded by the U.S. Department of Energy in its recent annual … [Read more...]
Round-up of the Top News Affecting the Oil Market
Here is a roundup of the most important Oil Market News WTI Trades Near 6-Month Low Before Economic Data Crude from West Texas Intermediate was sold at the lowest price for approximately 6 months. New data revealed the strength of United States economy, which is the world's largest oil consumer. Those who bet right were Oil speculators. They chose the right prices after a refinery which was … [Read more...]