May was a busy month, the major headline being the Colonial Pipeline outage.  Compared to April, the overall price of oil was much higher in May, and prices should continue to trend upwards as we head into June and the summer driving season takes off.  The following graph shows the daily price movements over the past three months: May started

Oil prices started April flat, but gained some steam mid-April and reached a high of $65 per barrel near the end of the month before cooling off slightly.  Compared to March, the overall price of oil was slightly lower for April, but prices are trending upwards as we head into May.  The following graph shows the daily price movements over

Following a rapid climb in February, oil prices lost their momentum in March.  Despite some volatility during March, prices ended the month at just over $59 per barrel which was about a dollar lower than where the month started. The following graph shows the daily price movements over the past three months: Oil prices had increased significantly during February primarily

Oil prices soared 18% higher in February, starting the month near $54 per barrel and ending just under $62.  Prices have increased almost 30% since the start of the year and are almost 40% higher compared to the same time last year. The following graph shows the daily price movements over the past three months: Following a flat trend in

As the new year began, oil prices quickly leaped from the high-$40’s per barrel to just over $52.  For the remainder of January, prices remained at that level as they traded within a narrow range. The following graph shows the daily price movements over the past three months: The jump in oil prices at the start of January continued to

Oil prices continued to increase throughout December and gained another 7% following a sharp increase during November.  Prices ended the year near $50/barrel but remain about 20% lower from where they started the year.  The following graph shows the daily price movements over the past three months: The continued rise in prices during December was primarily driven by optimism as

Oil prices increased sharply in November, rising over 25%.  The month began with prices just under $36/barrel and ended slightly over $45.  The following graph shows the daily price movements over the past three months: The rise in oil prices started early in November after published test results for two COVID vaccine trials reflected very high efficacy.  Despite a global

Oil prices fell by 11% during October, from a starting point near $40/barrel.  Shortly after the month began, prices dropped to $37 followed by a quick recovery toward $41.  However, the momentum was lost during the second half of the month as prices declined sharply to close the period under $36.  The following graph shows the daily price movements over

Oil prices showed some volatility during September after several months of trading in a tight range.  Shortly after the start of the month, prices fell by more than 10%, dipping just below $37 per barrel.  Within a week, prices managed to climb back to the familiar $40 level and stayed nearby for the remainder of the month.  The following graph

During August, oil prices continued trading in a very narrow range but did achieve a small gain, starting the month at $41 and closing near $43 per barrel.  The following graph shows the daily price movements over the past three months: Significant uncertainty about the economy due to the virus’ impact has persisted for several months which has limited movement