17 Years Bringing You News from the Energy Capital of the Planet
 
Author: <span>Shiloh</span>

Oil, gasoline, natural gas prices flat: Alex Mills

By Alex Mills

Crude oil, gasoline and natural gas prices have been flat throughout the summer.

Crude oil prices during June and July peaked on July 12 at $60.21 per barrel on the New York Mercantile Exchange and bottomed out on June 6 at $51.14, according to data from the U.S. Energy Information Administration (EIA). Crude oil closed on Wednesday at $56.22.

Gasoline averaged $2.75 per gallon last week throughout the U.S., which was a decrease of $0.029 from the previous week and a decline of $0.081from a year ago. EIA said Texas had the lowest average gasoline prices last week at $2.501, and California had the highest at $3.569 per gallon.

EIA reports there has been an oversupply of crude oil and petroleum products, which has contributed to the soft prices.

“The US driving season has peaked but the global gasoline market remains tight,” according to a report from Bank of America….
 

Investors Unimpressed By Pemex Rescue Plan: Report

July 23, 2019

With Mexico’s state-owned oil company’s debt reduced to junk status by Fitch and Moody’s putting Pemex on negative rating watch, a plan by the state to revive the failing O&G producer probably won’t be enough to help — there could be a resulting debt sell-off, and rescue of the oil company during a crisis could even jeopardize Mexico’s sovereign debt status, reports a new article from The Economist‘s Intelligence Unit….