gasoline posts
FeedPosted Apr 1st 2011 11:00AM by Connie Madon (RSS feed)
Filed under: China, Canada, Oil
There's a big ballyhoo about oil these days. With the turmoil in the Middle East, especially in Libya, the price of West Texas Intermediate (WTI) crude oil is priced over $100 per barrel. Gasoline at the pump is almost $4.00 per gallon.
Why then talk about an oil glut? We should first look at where our oil is coming from. Believe it or not, Canada is the biggest exporter of oil to the U.S. Canada is sending so much oil to the U.S. that our pipelines and storage facilities can't handle it. Reuters reports that our key storage facilities at Cushing Oklahoma are filled to capacity and are not equipped to handle the oil flow.
Continue reading Oil Glut at Cushing Oklahoma Could Last Two Years
Posted Jul 8th 2010 4:40PM by Michael Fowlkes (RSS feed)
Filed under: Oil

Oil prices have been steadily falling over the past 3 weeks, but broke through the psychological $75 barrier today as the Energy Department announced a
drop in inventories last week.
Going into today's inventory report, analysts had been expecting to see oil inventories drop by 2 million barrels, but the impact that Hurricane Alex on operations in the Gulf was greater than expected and supplies actually shrank by 4.96 million barrels.
Continue reading Oil Trades Higher as Inventories Shrink
Posted Mar 11th 2010 10:00AM by Connie Madon (RSS feed)
Filed under: Commodities, Oil
Gasoline futures closed at $2.2851 a gallon on Wednesday. That's a gain of 21% since February. The price of gasoline futures is the price at wholesale. Retailers can up the price to whatever the traffic will bear.
Right now gasoline at retail is about $3 per gallon. Retail gasoline, which closely follows crude oil prices, is up 5.5% over the past three weeks and 42% higher than a year ago.
Continue reading $3 Gas Is Almost Here -- What's Next?
Posted Feb 2nd 2010 4:20PM by Steven Mallas (RSS feed)
Filed under: Earnings Reports, Exxon Mobil (XOM), Oil

ExxonMobil (
XOM) is a tricky stock to consider. The integrated oil entity reported fourth-quarter results on Monday, and there was good news and bad news. According to Jonathan Berr over at
DailyFinance, net income was $1.27 per share, several pennies ahead of estimates. The top line also came in better than expected.
Unfortunately, profit on a dollar basis dropped over 20%. And higher oil prices are making things difficult at the refinery stage. While the earnings beat is good, these elements to the story must be given ample consideration.
Continue reading ExxonMobil: A Buy After Q4?
Posted Jan 7th 2010 10:20AM by Mark Fightmaster (RSS feed)
Filed under: Costco Wholesale (COST), Economic Data
Retail sales results are pouring in, and one of the companies finding itself on the smiling side of the data is Costco (COST). The warehouse club reported that higher gas prices and a weak dollar helped a "key sales figure" increase 9% during December. The Street expected Costco to report an increase of 7.9%. Removing higher gasoline prices and the soft dollar from the equation resulted in a sales increase of 4%. U.S. sales increased 2% and international results increased 10%.
Costco (and other warehouse stores) turned in a solid month, as shoppers looked to stretch their dollar as far as possible. When you can go into a store and purchase 50 toilet paper rolls for a reasonable price, why wouldn't you shop at a bulk retailer?
Continue reading Costco's December Same-Store Sales Rise More Than Expected
Next Page >