AAA Daily Fuel Gauge Report for Friday, 11/10/2017
National Average Price for Regular – Current: $2.561; Month Ago: $2.485; Year Ago: $2.196.
National Average Price for Diesel – Current: $2.818; Month Ago: $2.728; Year Ago: $2.413.
http://gasprices.aaa.com/
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US crude rises 1.4% to 3.5-year high on Venezuela and Iran supply concerns
Crude prices strengthened on Monday, reversing course as geopolitical tensions continued to support the market and a trade war between the U.S. and China was declared "on hold." Geopolitical concerns that U.S. sanctions on Iran could curb the country's crude exports have led crude prices to trade higher in recent weeks, and the market is now weighing the possibility of additional sanctions on Venezuela following the country's presidential election. Click Read More below for additional information.
Oil Holds Above $70 as Geopolitics Eclipses Supply Outlook
Oil rose on Tuesday, holding above $70 a barrel for a third day, supported by concerns that tensions in the Middle East could lead to supply disruptions, although with global output rising fast, investors remained cautious.
Brent crude futures LCOc1 were up 28 cents on the day at$70.40 a barrel by 0848 GMT, while West Texas Intermediate (WTI) crude futures CLc1 were up 19 cents at $65.74 a barrel.
The oil price has risen by more than 7 percent so far this month and by 5.3 percent in the first three months of the year, putting it on track for a third consecutive quarterly gain, something the market has not witnessed since late 2010.