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☆ Good news: The worst could be over for gas prices this spring
▼ + stars: | 2024-04-30 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

US gas prices have stopped rising and even briefly dipped in recent days. Now, there is growing hope that gas prices are at or near a peak for the spring – or perhaps even for the year. ‘Could have been much worse’Of course, none of this is to say gas prices are cheap. A spike in gas prices would be the last thing President Joe Biden needs as he struggles to convince voters of his economic message before November. Why gas prices have cooledThere are multiple reasons why gas prices have stopped rising for the moment.

Persons: Patrick De Haan, “ I’m, ” De Haan, Tom Kloza, ”, Andy Lipow, “, De Haan, Joe Biden, Lipow, ” Lipow, Kloza Organizations: New, New York CNN, OPEC, AAA, CNN, “, Oil Price Information Service, Lipow Oil Associates, Drivers, Federal Reserve, Biden, US Strategic Petroleum Reserve, Coast, Colorado State University Locations: New York, Israel, Iran, Covid, California, De Haan ., Washington, Syria, West Texas, New Mexico, Saudi Arabia, Russia

☆ Iran-Israel tension spikes oil
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIran-Israel tension spikes oilTom Kloza, OPIS global head of energy analysis, joins 'Squawk Box' to discuss how the ongoing Middle East conflict could affect global oil prices, why August could be a crucial month for oil prices, and more.

Persons: Tom Kloza Locations: Iran, Israel

☆ Gas prices drop more than 60 days in a row
▼ + stars: | 2023-11-28 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Gas prices have now fallen every day since the peak on September 18, AAA data shows. However, it’s normal for gas prices to cool off once the summer driving season ends because demand drops. Gas prices are now down 63 cents since hitting $3.88 in September. Yet oil prices — the main driver of retail pump prices — also have tumbled about 20% since briefly topping $95 a barrel on September 28. No matter the reason, gas prices are falling around the country.

Persons: That’s, ”, Tom Kloza, Kloza, OPIS, “ It’s, ” Kloza Organizations: New, New York CNN, AAA, Oil Price Information Service, Saudi Locations: New York, Israel, Hormuz, Iran, Ukraine, Saudi Arabia, China, OPEC, United States, Wisconsin , Ohio, South Carolina, Hawaii, Washington, California

☆ There's a strong case for a coming gasoline glut, says OPIS' Tom Kloza
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a strong case for a coming gasoline glut, says OPIS' Tom KlozaTom Kloza, OPIS co-founder and global head of energy analysis, joins 'Closing Bell Overtime' to talk the oil market, prices at the pump falling, a possible 'gasoline glut' and more.

Persons: OPIS, Tom Kloza Tom Kloza

☆ Lower gas prices will likely continue through the holidays, says Denton Cinquegrana
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLower gas prices will likely continue through the holidays, says Denton CinquegranaDenton Cinquegrana, Chief Oil Analyst at OPIS, discusses the outlook for gas prices this holiday season.

Persons: Denton Cinquegrana Denton Cinquegrana Organizations: Chief Oil

The drop in gasoline prices could benefit consumers and cool inflation. Before this week's drop, gasoline prices had posted a 7.4% jump in the third quarter, riding increases in crude oil futures after production cuts from Saudi Arabia, Russia and other OPEC+ members. U.S. wholesale gasoline prices are tumbling, with percentage drops per gallon on Wednesday between 6.9% and 10.8%. A flurry of weak economic data took more wind out of the market. Crude futures settled an eye-popping $5 a barrel lower on Wednesday, and fell another $1.66 on Thursday.

Persons: Bing Guan, JP Morgan, Tom Kloza, Kloza, Laura Sanicola, David Gregorio Our Organizations: Mobil, REUTERS, U.S . Energy, Administration, U.S ., Midwest, Oil Price Information Service, ADP, Oil, Thomson Locations: Beverly Boulevard, West Hollywood , California, U.S, Saudi Arabia, Russia, U.S . East Coast, East

☆ OPIS' Denton Cinquegrana sees a slight upside for crude oil
▼ + stars: | 2023-09-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPIS' Denton Cinquegrana sees a slight upside for crude oilOPIS chief oil analyst Denton Cinquegrana joins 'The Exchange' to discuss rising oil and gas prices.

Persons: OPIS, Denton Cinquegrana

☆ OPIS' Tom Kloza explains why oil and gasoline prices will go 'considerably higher' from here
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPIS' Tom Kloza explains why oil and gasoline prices will go 'considerably higher' from hereTom Kloza, OPIS global head of energy analysis, joins 'Squawk Box' to discuss what's driving high gasoline prices, with the national average at $3.73 a gallon, the impact of Saudi cuts and Russian exports on the market, and more.

Persons: Tom Kloza

☆ Brazil Is Key to Slowing Global Warming. But Its Carbon Market Has Struggled.
▼ + stars: | 2023-06-07 | by ( Paulo Trevisani | ) www.wsj.com time to read: +8 min

With Brazil struggling in its efforts to create a regulated carbon market, the country’s new president is moving to scrap his predecessor’s approach and start anew. Financing carbon-capture projects such as reforestation could also generate carbon credits. For example, a local regulated carbon market could help exporters avoid the carbon border adjustment mechanism the EU plans to charge on some imported products from 2026. Exporters also hope a regulated market would help repair Brazil’s abysmal environmental reputation, a product of its history of deforestation. The da Silva administration plans to have a carbon market operating in a couple of years, Toni said.

Persons: Luiz Inácio Lula da Silva, Jair Bolsonaro, ”, Gustavo Pinheiro, Luiz Gustavo Bezerra, Mayer Brown, Pelerson Penido Dalla Vecchia, Antônio Queiroz, Bezerra, Ana Toni, Silva, Toni, da Silva, Marina Silva, Annie Groth, “, Paulo Trevisani Organizations: Brazil, Climate, Society, Union, Vale, Agence France, group’s, International Chamber of Commerce, EU, Sustainable Business, National Secretariat, Street, Brazil’s Ministry of Development, Industry, Trade, Services, Environmental Ministry, United Nations Locations: Brazil, Paris, Braskem, Brazilian, Pennsylvania, Peru, Dubai

☆ Panic buying causes widespread gas station closures in South Florida
▼ + stars: | 2023-04-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —More than half of gas stations in the Miami-Fort Lauderdale area were without gasoline Wednesday after flooding from last week’s massive storm caused a wave of panic buying by drivers topping off their gas tanks. “I would estimate that 80% of [station closings] are due to panic buying,” said Patrick De Haan, head of petroleum analysis for GasBuddy, which tracks station closings and gas prices. Data from GasBuddy showed that 59% of stations in the Miami-Fort Lauderdale market were closed Wednesday, up from about 20% on Sunday. But the even better news is that with full tanks, drivers will not need to fill up in the coming days as they normally might have, and the panic buying is likely to subside. He expected most of the closed stations to be reopened by the weekend.

☆ OPEC+ moves will send US gas prices higher
▼ + stars: | 2023-04-03 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —OPEC and its allies’ surprise move to slash oil production will soon be felt at US gas pumps. “I think OPEC is reawakening the inflation monster,” said Tom Kloza, global head of energy analysis for OPIS, which tracks gas prices for AAA. It certainly alters the calculus for a while.”The national average for US gas prices stood at $3.51, on Monday, according to AAA. Even at $3.51, US gas prices were just below the $3.53 average on Feb. 23, 2022, the day before Russia’s invasion of Ukraine. “They have ability to cut production and they seem motivated to do so,” he said.

☆ OPIS: Oil prices have a shot at breaking triple digits this year, but that move could be short-lived
▼ + stars: | 2023-03-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPIS: Oil prices have a shot at breaking triple digits this year, but that move could be short-livedOPIS chief oil analyst Denton Cinquegrana discusses why crude prices have been rangebound for the past several months, and where oil and gasoline prices may be headed this spring and summer.

☆ Gas surcharges have ended. But not everyone is happy
▼ + stars: | 2023-03-01 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Amazon, Uber and Lyft recently ended extra fuel surcharges as gas prices dropped late last year. These companies added gas surcharges in response to skyrocketing energy prices following Russia’s invasion of Ukraine last year. Gas prices swung wildly in 2022: At one point the national average for a gallon of gas was above $5 for the first time ever, according to AAA. Fuel surcharges went directly to ride-share drivers and were meant to help them soften the blow of high gas prices. It’s unlikely that gas prices will spike this year.

☆ One year into Ukraine war, US gas prices are lower. Here’s what to expect ahead
▼ + stars: | 2023-02-25 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

Why prices shot up, then fellA number of factors have coincided to bring prices steadily lower since then. Now, a year after the start of the war, crude oil prices on global markets and the retail price of regular gas across most of the United States are below pre-war levels. OPIS expects the average price throughout the course of 2023 to come in around $3.45, down from $3.96 last year. Few things take a bite out of gas prices like a recession, or even just the fear of one. The average price of a gallon of regular gas hit a then-record of $4.11 in early July 2008, according to OPIS data.

☆ The Outlook for Diesel: Supply Woes Aren’t Going Away Soon
▼ + stars: | 2023-01-28 | by ( Denton Cinquegrana | ) www.wsj.com time to read: +4 min

Throughout the U.S., diesel supplies remain tight; the East Coast in particular has been pressed to keep tanks fully stocked. Some of the supply issues go back to pre-Covid 19 events, including a June 2019 fire that took out a key East Coast refinery. Europe has been weaning itself off Russian crude oil and natural gas, but replacing Russian diesel may prove trickier. At that time, diesel prices at the retail level in the U.S. were in the $5.25-5.30 a gallon range. By the end of January, retail diesel prices should be approaching $4.75 a gallon.

☆ Gasoline is cheaper now than a year ago — and could fall below $3
▼ + stars: | 2022-12-08 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Gasoline prices are now cheaper across the U.S. than they were a year ago, and the price per gallon could fall below $3 for most Americans by the end of the year. Unleaded gasoline was at a record $5.01 per gallon June 14 and stayed high through the summer and fall. Gas prices fell 15 cents per gallon in the past week and are down from $3.80 a gallon a month ago. Even with OPEC+ reaffirming a 2 million barrel a day production cut this past week, oil prices have still fallen. But for now, gasoline prices are in decline.

☆ Gas Prices Are Dropping: Here’s How Much Lower They Might Go
▼ + stars: | 2022-12-02 | by ( Joseph De Avila | ) www.wsj.com time to read: 1 min

Gas prices are well below record highs hit earlier this year. Analysts think they could fall even farther. The average cost of regular unleaded gasoline fell to $3.45 a gallon on Thursday, according to OPIS, an energy-data and analytics provider. That is among the lowest levels since Russia’s invasion of Ukraine in February and a more than 30% drop from a record above $5 in June, according to OPIS.

And a freight rail strike could cost the US economy $1 billion in its first week alone, according to a new analysis from the Anderson Economic Group. But that’s nothing compared to what would happen with a prolonged rail strike. CommutingOnly the nation’s freight rail lines face a pending strike, but commuters would likely be affected, too. Many commuter trains travel on tracks maintained and operated by the freight railroads and passenger railroads expect they’ll have to shut down their operations once the freight strike starts. Many commuter railroads also move over freight rail lines and could not operate if a strike was called.

☆ Get ready for the most expensive holiday travel season ever
▼ + stars: | 2022-11-20 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

US gas prices are higher than they’ve ever been at this time of year. “Holiday travel has come back as strong as ever, and leisure travel is why that recovered,” said Scott Keyes, founder of travel site Scott’s Cheap Flights. “Holiday travel is definitely more expensive than we’ve seen in previous years,” said Hayley Berg, chief economist for Hopper. Even with the annual surge in holiday travel, the amount of driving in November and December is typically well below the summer driving season. Other travel costsHotel prices also are more expensive than they’ve ever been this time of year.

☆ Diesel Hits Record Premium Over Gas, Oil
▼ + stars: | 2022-11-16 | by ( Bob Henderson | ) www.wsj.com time to read: 1 min

Dwindling stockpiles of diesel have driven prices to a record premium over gasoline and crude oil, showing how war, weather and other disruptions to globalized energy markets are still producing price shocks and potential shortages. While the price of gasoline is up about 14% this year, diesel has climbed about 50%, to $5.36 a gallon, according to AAA/Opis. The gains widened the gap between the two to an all-time high of $1.60. A year ago, it was 23 cents. Wholesale diesel, delivered into New York harbor, traded at a record premium to crude oil in October, according to the Energy Information Administration, which also reported the country had only 25 days of diesel in reserve, the lowest since 2008.

☆ OPIS' Tom Kloza breaks down the diesel supply shortage
▼ + stars: | 2022-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPIS' Tom Kloza breaks down the diesel supply shortageCNBC's Lori Ann LaRocco and Tom Kloza, OPIS co-founder, join 'The Exchange' to discuss the diesel supply shortage as the fuel dwindles ahead of the winter season.

☆ Biden can’t do much to bring down gas prices. But a recession can
▼ + stars: | 2022-10-23 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN Business —There is one surefire cure for high gas prices. “There is now a perceived huge downward risk tied to recession,” said Tom Kloza, chief energy analyst for OPIS, which tracks gas prices for AAA. And it’s not just US economic worries that’s putting downward pressure on gas prices. It doesn’t take a severe economic downturn to take a bite out of gas prices. The nine-month recession of 2001 ended with prices down 37% at the end of that year from their peak.

☆ Gas prices are heading down, with or without Biden’s help
▼ + stars: | 2022-10-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN Business —It’s not at all clear if President Joe Biden’s latest announcement that he’s releasing oil from the nation’s emergency stockpile will help bring gas prices down. The national average stood at $3.85 a gallon Wednesday, down 2 cents from Tuesday and 7 cents in the last week. But a number of West Coast refineries that had been offline have returned to operations, and that has sparked a plunge in gas prices west of the Rocky Mountains, driving down the national average. “As it started selling off [Tuesday], it triggered some liquidation [of oil futures].” Oil and gas prices both rebounded modestly in Wednesday trading. Correction: A previous version of this article misidentified the day of the week the national gas price average stood at $3.85 a gallon and the prior day.

☆ America’s emergency oil stockpile is at a 38-year low but it’s still got firepower left
▼ + stars: | 2022-10-18 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

More than any of his predecessors, President Joe Biden has aggressively leaned on this emergency oil stockpile to knock down the high pump prices that voters despise. That has left this emergency oil stockpile at its lowest point since June 1984 — a time when both the US economy and energy demand was significantly smaller than today. The SPR headlines are rattling an energy market already on edge over a potential recession. US oil prices dropped 3% to $82.82 on Tuesday, returning to levels last seen before rumors swirled regarding OPEC+’s controversial production cuts. They’ve done a tremendous job achieving their goal of trying to get energy prices lower,” said Michael Tran, managing director of global energy strategy at RBC Capital Markets.

☆ OPIS co-founder Tom Kloza warns the energy crisis will be around for years
▼ + stars: | 2022-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPIS co-founder Tom Kloza warns the energy crisis will be around for yearsTom Kloza, Oil Price Information Service co-founder, joins 'The Exchange' to discuss the diesel fuel shortage.

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