WTI Crude •2 days | 52.36 | -1.21 | -2.26% | |
Brent Crude •2 days | 55.10 | -1.32 | -2.34% | |
Natural Gas •2 days | 2.737 | +0.071 | +2.66% | |
Mars US •2 days | 53.11 | -1.51 | -2.76% | |
Opec Basket •3 days | 55.19 | -0.62 | -1.11% | |
Urals •25 days | 42.22 | +0.00 | +0.00% | |
Louisiana Light •3 days | 55.57 | +0.56 | +1.02% |
Marine •2 days | 55.42 | -0.19 | -0.34% | |
Murban •2 days | 55.53 | -0.35 | -0.63% | |
Iran Heavy •2 days | 50.99 | -0.86 | -1.66% | |
Basra Light •2 days | 56.77 | -1.07 | -1.85% | |
Saharan Blend •2 days | 54.43 | -0.75 | -1.36% | |
Bonny Light •2 days | 54.33 | -0.81 | -1.47% |
Canadian Crude Index •12 days | 39.41 | +1.59 | +4.20% | |
Western Canadian Select •2 days | 42.57 | +1.06 | +2.55% | |
Canadian Condensate •2 days | 52.57 | +0.66 | +1.27% | |
Premium Synthetic •2 days | 53.97 | +0.66 | +1.24% | |
Sweet Crude •2 days | 48.57 | +0.46 | +0.96% | |
Peace Sour •2 days | 47.32 | +1.06 | +2.29% |
Louisiana Light •3 days | 55.57 | +0.56 | +1.02% | |
Domestic Swt. @ Cushing •2 days | 48.75 | -1.25 | -2.50% | |
Giddings •2 days | 42.50 | -1.25 | -2.86% | |
ANS West Coast •4 days | 56.80 | -0.43 | -0.75% | |
West Texas Sour •2 days | 46.31 | -1.21 | -2.55% | |
Eagle Ford •2 days | 50.26 | -1.21 | -2.35% |
Spot prices of liquefied natural…
Iran’s oil revenues have halved…
As part of the commodity sell-off, oil prices were down again today (the price of gold is irrelevant for the economy, but oil matters). According to Bloomberg, WTI was down to $87.62 per barrel, and Brent was down to $100.39 per barrel.
According to Gasbuddy.com (see graph at bottom), gasoline prices are down to a national average of $3.50 per gallon. Using the calculator from Professor Hamilton, and the current price of Brent crude oil, the national average should be around $3.35 per gallon. That is about 15 cents below the current level according to Gasbuddy.com, and I expect prices to fall further. The low for the year is in the $3.20s per gallon, and a year ago gasoline was at $3.90 per gallon.
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