US Gasoline Average Price Tops $5 Per Gallon

US Gasoline

The US gasoline averaged price more than $5 a gallon for the first time on Saturday, data from the AAA showed, extending a surge in fuel costs that is driving rising inflation. The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 a day earlier, AAA data showed.

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US Gasoline Average Price Tops $5 Per Gallon via @marketinvestor

WTI Crude Backs Off from 3 Month Highs Near $121

WTI Crude

WTI Crude hitting the $121 per barrel mark earlier in the day and, in doing, having hit fresh three-month highs, front-month WTI futures have waned in recent trade. WTI was last trading in the $118s and down about $1.50 on the session, with the boost from this weekend’s news about the Saudis upping their Official Selling Price (OSP) to large Asian customers having now faded.

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WTI Crude Backs Off from 3 Month Highs Near $121 via @marketinvestor

WTI Crude Fading Back Towards $118

WTI Crude

WTI crude futures coming within a whisker of hitting the $120 per barrel mark earlier in the session before backing off somewhat following a risk-averse start to the final trading day on Wall Street of the month.

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WTI Crude Fading Back Towards $118 via @marketinvestor

WTI Oil Prices Set to End Strong Week Around $114

WTI Crude

WTI oil prices have stabilised close to monthly highs today, supported amid a strong end to the week for global risk assets and commodity markets, and with familiar supportive themes in focus. Front-month WTI oil prices were last trading ever so slightly in the red near the $114 per barrel mark, on course to post a weekly gain of just shy of $3.50.

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WTI Oil Prices Set to End Strong Week Around $114 via @marketinvestor

Oil Prices Lower Slid 0.5% on Concerns Over Recession

WTI Crude

On Tuesday oil prices fell as concerns over a possible recession and China’s COVID-19 curbs outweighed an expectation of tight global supply and a pick-up in fuel demand with the U.S. summer driving season. Brent crude oil prices for July slid 61 cents, or 0.5%, to $112.81 a barrel by 0402 GMT.

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Oil Prices Lower Slid 0.5% on Concerns Over Recession via @marketinvestor