Basic Daily Prices of Fuel Prices – Unexpected demand for oil prices has put $ 100 on the radar

On Friday, December, WTI crude futures rose $ 78.76, $ 0.80 or + 1.03%, and December Brent crude oil $ 82.39, $ 0.44 or + 0.53%.

Amid concerns over U.S. energy and production concerns, the protests erupted in the middle of the week, sparking a series of violent demonstrations, including natural gas and coal, between Europe and Asia.

Other factors contributed to the ups and downs of the markets and their performance until Friday.

Despite recent fuel shortages, OPEC + chose to stay on top of the previous deal to increase production by 400,000 bpd. Oil prices rose earlier this week.

Prior to the meeting, some traders thought OPEC and its partners would prefer to bring more products online to meet the growing demand, but some members noted that there may be a lower demand due to the fourth COVID-19 storm before deciding to leave. At 400,000 bpd.

Crude oil prices have also been boosted after the energy department said it had no plans to use the strategic petroleum reserve.

Gasoline prices rise as traders increase supply

The American Petroleum Institute (API) on Tuesday reported the construction of 3.555 million barrels of gasoline for the second week in a row. .

Following Wednesday, the Energy Information Administration (EAA) reported that US oil reserves rose 3.3 million barrels a week to 225.1 million barrels a week, compared to 279,000 barrels.

Despite the rise in gasoline industries, the national average price per gallon of gas stood at $ 3.22 on Wednesday, with consumers paying more in some areas, according to the AA, the highest since October 2014.

In California, the average price is more than $ 4.42. Prices in the state’s Mono County reach $ 5.

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