August’s crude oil prices traded in a narrow range between the mid- to high-$40’s/barrel.  They opened the month just over $49 and closed the month just over $47.  The following graph shows the daily price movements over the past three months:

July’s oil prices closed the month at just over $50/barrel which was almost 10% higher than where they started the month.  Prices sagged during the first week of July but turned upward by the second week and continued climbing for the remainder of the month.  The following graph shows the daily price movements over the past three months:

Oil prices fell approximately 10% during June as the decline that began toward the end of May continued throughout the month.  Prices at the beginning of June were just over $48/barrel and decreased to $43 near the end of the month.  During the last few days of the month, prices managed to stage a comeback and ended the month at

May was a choppy month for oil prices which started just below $50/barrel and wound up almost in the same place by the end of the month.  The following graph shows the daily price movements over the past three months:   

  April was an active month for oil prices which started at just over $50/barrel, steadily climbed over $53 by mid-month, then fell back below $50 near the end of the month.  The following graph shows the daily price movements over the past three months:   

Oil prices continued to trade in a narrow range between $52 and $55 per barrel during February following a similar pattern for the past few months.  However, the overall price range has increased slightly compared to the previous months primarily because OPEC and other foreign countries are strongly adhering to the oil production cutbacks they agreed to back in November. 

Oil prices continued to trade in a narrow range near $52/barrel during January just as they did in December.  This pattern followed a significant spike at the end of November primarily attributable to the agreement by OPEC and other foreign countries to reduce oil production beginning January 2017.  The following graph shows the daily price movements over the past three

  Happy New Year from Sokolis Fuel Management! Oil prices traded in a narrow range around $52/barrel during December following a significant spike at the end of November.  The spike upward was due to an agreement by OPEC and other foreign countries to reduce oil production beginning January 2017.  The following graph shows the daily price movements over the past

For most of November, oil prices struggled to recover following their significant drop in October.  However, at the end of November, prices spiked upward in response to OPEC’s agreement to reduce oil production.  The following graph shows the daily price movements over the past two months: