News

The attention of investors has been rightly focused on a solid earnings season, employment data, and the Federal Open Market Committee meeting on Tuesday.

Unfortunately, the elements that constitute so-called risk or geopolitical premium in oil prices suffer from no distractions. Several newsworthy events, recently, represent the dots that the oil market may begin to connect to produce a significant event driven price spike in prices - potentially driving crude oil prices upwards of $200 per barrel. Read more.

Brent oil prices open today’s trading session ahead of WTI oil and over $82 a barrel, posting four straight daily gains as investors look to Asian oil demand to gauge the future price of oil.  Read more.

MyGallons.com believes that we need a major change in our nation’s energy policy. Our focus must be on developing renewable energy to end dependence on foreign oil and to preserve our environment.

While our nation remains dependent upon the use of fossil fuels, MyGallons.com will continue to provide real price protection to consumers by allowing them to lock in current prices before they rise once again.

MyGallons.com is committed to relief and assistance for the many victims of the BP oil spill tragedy. MyGallons.com pledges to donate 10% of all new membership fees to the Gulf oil spill relief.
Should this disaster lead to higher gasoline prices and economic hardship for hard working Americans, MyGallons.com will be here to help.

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Oil prices rose to near $76 a barrel Friday in Asia, following stock markets higher as confidence rose the global economic recovery remains intact.  Benchmark crude for August delivery was up 25 cents to $75.69 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.37 to settle at $75.44 on Thursday.  Read more.

Demand for liquid fuels such as gasoline and diesel have started to show “signs of recovery” this year, the Energy Information Administration said Wednesday. Consumption slowed to 20,000 barrels a day in the first quarter of 2010, but second-quarter consumption rose by 500,0000 barrels a day compared to the same quarter last year, the EIA said in its energy outlook report. The EIA has also increased OPEC and non-OPEC supply forecasts, and said emerging markets represent nearly all the expected growth in world oil consumption.  Read more.