Oklahoma Pump Prices Bucking the National Trend - Tulsa World
Mild refinery problems, including at one Texas panhandle refinery, forced some refiners to buy fuel to meet contractual needs, which pushed up the price of gas for consumers. California ($3. 87) remains the nation’s most expensive market for retail gasoline. Regional neighbors Alaska ($3. 47), Hawaii ($3. 34), Nevada ($3. 26) and Washington ($3. 19) round out the top five most expensive markets for retail gasoline. This week’s trading session opened to news of falling oil rig counts in the U. S. and reports that Saudi Arabian oil exports fell to a five-month low this past May. However, neither factor has notably shifted market fundamentals, as the lower rig count has been countered by reports that that U. S. production remains high and lower Saudi Arabian oil exports have been attributed to higher gasoline production in... Following the nuclear deal that was reached last week between Iran and China, France, Russia, the United Kingdom, the United States and Germany (the P5+1), the prospect for Iranian crude oil to return to the global market also remains top of mind... Iran is home to the world’s fourth largest oil reserves and prior to sanctions was one of OPEC’s largest producers. Although the timeline for the possible return and at what quantity remains in question, downward pressure is expected to remain on global oil prices as a result of the news. Source: www.tulsaworld.com
