Fuel prices have been relatively stable over the last several months as supply isn’t diminishing enough and demand isn’t exactly booming either. However, as time has shown, fuel prices are extremely unpredictable. It just takes one event or change, and prices can spike or plummet. Volatility will continue in the fuel market as much as it does in the stock
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 had been trading in a narrow range between $51 and $54 per barrel from the beginning of the year until early March when prices fell rapidly. Their decline into the high $40’s was primarily attributable to increasing inventory levels despite an agreement to reduce production by OPEC and other foreign countries. The following graph shows the daily price
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:
Oil prices traded in a very narrow range during most of October following a rapid increase during the last half of September. The following graph shows the daily price movements over the past two months:
Crude oil prices were very volatile during September and the month ended just over $48/barrel. This is approximately 12% higher than where the month started. The following graph shows the daily price movements over the trailing three months:
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