Crude Oil
An update on West Coast gasoline markets
On Monday, October 8, the average retail price of regular gasoline in California reached $4.66 per gallon, driving the West Coast average price to $4.41 per gallon, the highest weekly price since the summer of 2008.
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Gasoline price down while diesel fuel price increases
The U.S. average retail price of regular gasoline decreased three cents last week to $3.82 per gallon, 34 cents per gallon higher than last year at this time.
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Heating oil markets are tight as winter approaches
In petroleum markets, October is typically the time when attention shifts from transportation fuels to heating fuels. Strong global distillate demand and refinery outages have supported prompt distillate prices relative to those in the future.
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Gasoline and diesel fuel prices both increase
The U.S. average retail price of regular gasoline increased five cents last week to $3.85 per gallon, 43 cents per gallon higher than last year at this time.
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U.S. oil production continues to grow
U.S. oil production, including crude oil and lease condensate, has grown steadily since 2008, a change from the two decades of declines before 2008.
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Gasoline, diesel fuel prices decrease for a 2nd consecutive week
The U.S. average retail price of regular gasoline decreased two cents last week to $3.80 per gallon, 37 cents per gallon higher than last year at this time.
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Gas and diesel fuel prices fall for the first time in 12 weeks
The U.S. average retail price of regular gasoline decreased five cents last week to $3.83 per gallon, 32 cents per gallon higher than last year at this time.
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The impact of U.S. crude oil production on crude imports
Increased production of U.S. domestic crude oil, particularly light sweet crude from tight oil formations in Texas and North Dakota, has been replacing imports of foreign light crude oil processed by U.S. Gulf Coast refineries.
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Crude oil market volatility
There are two commonly referenced measures of market price uncertainty: historical volatility and implied volatility.
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Gasoline and diesel fuel prices increase again
The U.S. average retail price of regular gasoline increased about three cents last week to $3.88 per gallon, 28 cents per gallon higher than last year at this time.
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Brent-WTI differential to narrow
The differential between the spot prices of Brent and West Texas Intermediate (WTI) crude oils, referred to as the Brent-WTI spread, averaged $19 per barrel in August 2012.
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