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AAA Daily Fuel Gauge Report for Friday, 1/8/21
National Average Price for Regular Unleaded Current: $2.302; Month Ago: $2.159; Year Ago: $2.596. National Average Price for Diesel Current: $2.584; Month Ago: $2.450; Year Ago: $3.017.
The Iran Deal Is Dead; Here’s What That Means for Crude Oil Prices
Short term, oil-pricing volatility will continue. Traders will likely consider any forward interruption – perceived or actual – in Iranian crude export flow as upward pressure on global prices. If this happens and JCPOA is not immediately closed, (i.e., should those second and third possible scenarios I mentioned play out), there will be a pullback. Overall, other factors have been contributing to an increasing floor for the oil-pricing band, supported by continuing OPEC production problems in Venezuela, Nigeria, and Libya. Click Read More below for additional information.
