National Average Price for Regular – Current: $2.544; Month Ago: $2.530; Year Ago: $2.285. National Average Price for Diesel – Current: $2.976; Month Ago: $2.931; Year Ago: $2.514.

California will block the transportation through its state of petroleum from new offshore oil rigs, officials told Reuters on Wednesday, a move meant to hobble the Trump administration’s effort to…

Futures in New York dropped 0.7 percent after earlier gaining as much as 1.3 percent. American Petroleum Institute data Tuesday showed an unexpected decrease in U.S. stockpiles, while on Wednesday…

Sun Chemical and its parent company, DIC Corporation, have acquired Luminescence Holdings Ltd., a manufacturer of currency, tax stamp, passports, ID cards, secure documents and brand protection inks for the…

Crude futures in New York fell a third day, sliding as much as 1.3 percent. Stock indexes from Japan to Germany tumbled on Tuesday after a frantic sell-off in U.S.…

Benchmark Brent fell to its lowest level since Jan. 8 as Baker Hughes data showed American explorers last week raised the number of rigs drilling for crude to the highest…

National Average Price for Regular – Current: $2.601; Month Ago: $2.486; Year Ago: $2.277. National Average Price for Diesel – Current: $2.992; Month Ago: $2.870; Year Ago: $2.510. http://gasprices.aaa.com/

American Dollar to Canadian Dollar = 0.811745; American Dollar to Chinese Yuan = 0.159113; American Dollar to Euro = 1.249022; American Dollar to Japanese Yen = 0.009103; American Dollar to…

Brent crude traded near $70 a barrel as the specter of expanding U.S. supply was weighed against Wall Street banks’ growing faith in a price rally. The benchmark grade is…

Oil jumped after Goldman Sachs Group Inc. boosted a price forecast by a third and said global crude markets have probably rebalanced. West Texas Intermediate futures added 0.8 percent in…

Oil slipped for a third day in New York, continuing its retreat from a three-year high, on estimates that U.S. crude stockpiles increased last week. “Strong U.S. crude supply growth…

Futures fell for a second day as U.S. crude stockpiles were seen expanding for the first time in 11 weeks, ending a record run of declines. A sharp contraction in…

Brent crude oil prices eased below $70 a barrel on Monday as rising U.S. output undermined efforts led by OPEC and Russia to tighten supplies, but prices were still on…

National Average Price for Regular – Current: $2.571; Month Ago: $2.444; Year Ago: $2.288. National Average Price for Diesel – Current: $2.958; Month Ago: $2.833; Year Ago: $2.518. http://gasprices.aaa.com/

American Dollar to Canadian Dollar = 0.811877; American Dollar to Chinese Yuan = 0.158154; American Dollar to Euro = 1.244199; American Dollar to Japanese Yen = 0.009153; American Dollar to…

Futures have climbed 3.8 percent in New York this week after reaching the highest since December 2014 on Thursday. Crude stockpiles fell for a 10th week to the lowest level…

Oil prices bounced back on Wednesday, with U.S. crude topping $65 a barrel for the first time in more than three yeas, as government data showing a drop in U.S.…

European crude oil loadings bound for Asia have dropped to their lowest in four years at the start of 2018 as rising Brent prices shut the arbitrage window, causing the…

Futures in London slipped 0.2 percent, erasing earlier gains. Output limits should remain through 2018 as re-balancing may be achieved next year, Saudi Arabia’s Energy Minister Khalid Al-Falih said in…

American Dollar to Canadian Dollar = 0.804070; American Dollar to Chinese Yuan = 0.156195; American Dollar to Euro = 1.225948; American Dollar to Japanese Yen = 0.009036; American Dollar to…

Futures in New York tumbled as much as 1.7 percent before paring losses, as they head for the first weekly decline since mid-December. The Paris-based IEA said it sees “explosive”…

Futures were little changed in New York after rising 0.4 percent on Wednesday. The American Petroleum Institute estimates stocks fell by 5.12 million barrels last week, a steeper drop than the 3.15 million forecast in a Bloomberg survey before Energy Information Administration data due Thursday. OPEC’s outlook for rival supply expanded once again, the group said in its monthly report, becoming the latest agency to boost its estimates for American production. Oil is extending its run after two consecutive annual gains as the Organization of Petroleum Exporting Countries and allies including Russia curb supplies. While the cuts are gradually shrinking a global surplus, OPEC said rising prices are boosting production in North America. The International Energy Agency, which releases its monthly report on Friday, may also increase its estimates for U.S. output, said Executive Director Fatih Birol. Click Read More below for additional information.

Futures were little changed in New York after rising 4.7 percent last week. The curbs have contributed to stability in the market and should remain, Iraqi Oil Minister Jabbar al-Luaibi said Saturday. Yet, Brent crude at $70 a barrel may be giving fresh stimulus to U.S. shale-oil drillers to boost output, according to the International Energy Agency. Oil has extended gains after a second annual advance as the Organization of Petroleum Exporting Countries and its allies curb supply to drain a global glut. Though they have said the historic deal will run until the end of this year, OPEC is “very likely to cut short” the pact if markets become balanced, JP Morgan Securities said in a report. Click Read More below for additional information.

National Average Price for Regular – Current: $2.521; Month Ago: $2.456; Year Ago: $2.351. National Average Price for Diesel – Current: $2.921; Month Ago: $2.836; Year Ago: $2.532.

American Dollar to Canadian Dollar = 0.798408; American Dollar to Chinese Yuan = 0.154750; American Dollar to Euro = 1.213423; American Dollar to Japanese Yen = 0.008996; American Dollar to Mexican Peso = 0.052110.

Brent crude oil hit a more than three-year high on Thursday, breaking through the psychologically important $70 a barrel level for the first time since December 2014. Oil futures failed to hold the gains, selling off as the close of trading approached, with analysts warning that the market might have little room left to run. Oil prices have been supported by stronger-than-expected demand fueled by worldwide economic growth, ongoing output limits by OPEC and Russia and a series of global events that have stoked geopolitical tension. Click Read More below for additional information.

Crude oil prices rose but backed away from multi-year highs on Wednesday after U.S. government data showed an increase in fuel inventories and a falloff in refining activity. A broad, global market rally, including stocks, has also been fueling investment into crude oil futures, but analysts warned of possible overheating. U.S. crude inventories fell 4.9 million barrels last week, more than the 3.9-million decline forecast, but bigger-than-expected builds in gasoline and fuel stocks offset that drawdown, the Energy Information Administration reported. Click Read More below for additional information.

Oil rose further above $68 a barrel briefly on Tuesday, touching its highest since May 2015, supported by OPEC-led production cuts and expectations U.S. crude inventories fell for an eighth week. The Organization of the Petroleum Exporting Countries and allies including Russia are keeping supply limits in place in 2018, a second year of restraint, to reduce a price-denting glut of oil held in inventories. OPEC is cutting output by even more than it promised [OPEC/O] and the restraint is reducing oil stocks globally, a trend most visible in the United States, the world's largest and most transparent oil market. Click Read More below for additional information.

“Members of the Organization of Petroleum Exporting Countries are not keen on increased Brent crude prices above $60 a barrel because of shale oil," Iran Oil Minister Bijan Namdar Zanganeh said, according to the ministry’s news service Shana. Prices have climbed in recent days because of production cuts and increased demand for petroleum products due to cold weather, he said. U.S. output will rise by at least 830,000 barrels a day this year, JBC Energy GmbH said Tuesday in a note. That could cause U.S. crude prices to “cool” in the first half, the Vienna-based researcher said. The U.S. pumped about 9.34 million barrels a day last year, according to Department of Energy data compiled by Bloomberg. Click Read More below for additional information.

West Texas Intermediate futures rose 0.5 percent, following a 1.7 percent increase last week, when they hit a three-year high. Rigs drilling for crude fell by five to 742 in the seven days ended Jan. 5, according to Baker Hughes data Friday. Hedge funds retreated from the most bullish stance on WTI in 10 months during the week ended Jan. 2. “A drop in active oil rigs is usually bullish for oil prices,” said Michael Poulsen, an analyst at Global Risk Management Ltd. Oil had its strongest opening week for any year since 2013 as U.S. stockpiles continue to shrink. Click Read More below for additional information.

National Average Price for Regular – Current: $2.490; Month Ago: $2.477; Year Ago: $2.364. National Average Price for Diesel – Current: $2.893; Month Ago: $2.840; Year Ago: $2.527.

American Dollar to Canadian Dollar = 0.799835; American Dollar to Chinese Yuan = 0.154082; American Dollar to Euro = 1.205341; American Dollar to Japanese Yen = 0.008831; American Dollar to Mexican Peso = 0.051581.

“The rise in oil prices has mainly been caused by the freezing polar vortex hitting the U.S., firing up heating demand, and spurring concern about a potential impact on oil production and trade,” said Jens Naervig Pedersen, an analyst at Danske Bank A/S in Copenhagen. Oil has risen for two years running as the Organization of Petroleum Exporting Countries and Russia led a coalition of oil producers in cutting output. Prices have also been boosted by stoppages at pipelines in the U.K. and Libya. However, they are now at levels that are expected to help U.S. shale producers ramp up drilling, unlocking more crude and undermining OPEC’s efforts. Click Read More below for additional information.

With increasing demand in the printing industry for equipment that enables more frequent and faster job changes on press, Flint Group officially launches the new rotec® ULW Bridge to join the lightweight family of sleeves and adapters. The rotec® ULW Bridge is an ultra lightweight polyurethane adapter offering up to 65% reduction in weight compared to similar products in the market – a significant weight decrease improving safety and handling for press operators. Developed together with customers, this new generation adapter has been validated in applications on plate-mounting equipment and on presses running up to 450 m/min for the last 1-2 years. Ralf Venema, Flint Group General Manager explains: “Our Product Development Team is focused on developing products to help the customer work smarter, faster and easier. The rotec® ULW Bridge is an excellent solution for improved safety and easier handling at the printer.” The rotec® ULW Bridge is suitable for all press widths and offers particular benefits where higher wall thicknesses are most commonly used, such as in cantilevered mounter applications and unusually large print applications, including corrugated pre-print. Click Read More below for additional information.

Crude oil prices steadied near multi-year highs on Wednesday, even as concerns over geopolitical tensions began to ease, as supply cut efforts by global oil producers continued to support the commodity. Oil prices had climbed amid Iranian protests, marking the biggest challenge to the country's clerical leadership since 2009. However, the protests were showing no signs of impacting Iran's oil production. Crude prices continued to be supported by production cuts led by the Organization of the Petroleum Exporting Countries and Russia. The producers agreed in December to extend current oil output cuts until the end of 2018. Click Read More below for additional information.

Oil in New York climbed 12 percent last year as the Organization of Petroleum Exporting Countries and its allies trimmed supply to reduce a global glut. U.S. crude output is also slipping from a record-high, with weekly production falling through Dec. 22 for the first time since mid-October. Any interruption to Iranian supply would be a significant shock to the market. “Geopolitical risks are clearly back on the crude oil agenda,” said Bjarne Schieldrop, chief commodities analyst at SEB AB in Oslo. “As of yet, there is no deep-seated concern for a disruption” in Iran, but if that were to happen “it would have a huge impact on global crude oil prices.” Click Read More below for additional information.

National Average Price for Regular – Current: $2.477; Month Ago: $2.499; Year Ago: $2.316. National Average Price for Diesel – Current: $2.853; Month Ago: $2.840; Year Ago: $2.486.

American Dollar to Canadian Dollar = 0.797022; American Dollar to Chinese Yuan = 0.153658; American Dollar to Euro = 1.199276; American Dollar to Japanese Yen = 0.008886; American Dollar to Mexican Peso = 0.050730.

Futures are up more than 11 percent in 2017, having entered a bull market in September. The year’s gains were driven by output cuts by the Organization of Petroleum Exporting Countries and Russia, along with geopolitical tensions in the Middle East and pipeline disruptions from the North Sea to Canada and Libya. In 2018, investors will watch whether the price recovery triggers a new flood of U.S. output. “The current highs are unsustainable in the short-to-medium term, with prices likely to head back below $60 once we get past January, but for now the season of goodwill appears to be in full swing,” said analysts led by Michael dei-Michei at consultants JBC Energy GmbH in Vienna. Click Read More below for additional information.

Faced with dramatic increases in the cost of Azo intermediates and related raw materials, Sun Chemical Performance Pigments will raise its global prices on Azo pigments, specialty pigments and their pigment preparations, effective January 1, 2018. “The cost of Azo intermediates and other key raw materials have increased significantly and continue to do so, impacting the pigment industry,” said Chris Weighill, Vice President and Global Classical Pigment Product Manager, Sun Chemical Performance Pigments. “The expectation is that there will be no short-term relief in sight for these rising costs—forcing us to increase our prices. While we regret the necessity to take this action, current market conditions dictate that we must adjust our prices. We will continue to explore other cost reduction opportunities and productivity gains to offset the rising costs of raw materials.”

Due to a massive shortage in silicones and silicone-based materials from manufacturers, Sun Chemical will increase prices by 35 percent on its entire silicone-based product line in North America, effective January 15, 2018. “Because of the silicone shortage we’re seeing in the industry, our suppliers have passed on price increases beyond anything we have seen in recent years,” said Dennis Sweet, Vice President-Commercial, Rycoline and Distributors, North American Inks, Sun Chemical. “While Sun Chemical has utilized all its resources to offset these shortages and increases, it has now become necessary to pass some of these increases on.”

West Texas Intermediate futures were little changed, having climbed above $60 a barrel on Tuesday for the first time since 2015. The pipeline, which carries crude to Libya’s biggest export terminal, is said to need about a week for repairs. The operator of the critical Forties Pipeline System in the North Sea lifted all restrictions on flows caused by a crack earlier this month. Libya’s production dropped to 950,000 barrels a day on Wednesday, a person directly involved in the matter said. Output was 1.08 million barrels a day as of Dec. 18, indicating a decline of 12 percent. Loadings at Es Sider port are said to be down about 50 percent. The port was scheduled to ship 13 cargoes this month, each carrying 600,000 barrels of crude, according to a loading plan obtained by Bloomberg. Click Read More below for additional information.

Brent and West Texas Intermediate crude futures both slipped after the U.S. benchmark rose 2.7 percent on Tuesday, breaching $60 a barrel for the first time since June 2015. A pipeline run by Waha Oil Company that carries crude to Libya’s Es Sider terminal exploded Tuesday, reducing output by 70,000-100,000 barrels a day. The repair work will take about a week, according to people familiar with the situation. Meanwhile, Saudi Arabia is said to expect oil revenue to jump about 80 percent by 2023 to help the kingdom record its first budget surplus in a decade. “The market is having a counter-reaction to the jump yesterday,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen. “It remains supported by the news out of Libya but at the same time liquidity is very poor.” Click Read More below for additional information.

Futures were little changed in New York after gaining 2 percent last week. The number of U.S. rigs targeting oil remained unchanged at 747, Baker Hughes data showed Friday. A repair of the North Sea’s Forties Pipeline System is complete and pressure testing has started, operator Ineos Group said Monday. The halt of the line earlier this month sent prices surging. Oil is heading for a second yearly advance as the Organization of Petroleum Exporting Countries and its allies including Russia prolong supply curbs through the end of 2018. Iraq’s Oil Minister Jabbar Al-Luaibi said Monday that he’s optimistic prices will gain next year with global stockpiles falling and demand rising in China and India. Click Read More below for additional information.

National Average Price for Regular – Current: $2.436; Month Ago: $2.526; Year Ago: $2.270. National Average Price for Diesel – Current: $2.832; Month Ago: $2.837; Year Ago: $2.462.

American Dollar to Canadian Dollar = 0.786948; American Dollar to Chinese Yuan = 0.152087; American Dollar to Euro = 1.185357; American Dollar to Japanese Yen = 0.008821; American Dollar to Mexican Peso = 0.051324.

Futures advanced 0.9 percent in New York. American crude inventories tumbled by 6.5 million barrels last week, more than double the average estimate in a Bloomberg survey. Exports surged by the most on record as domestic explorers sent cargoes to foreign shores where they fetched higher prices. “Crude inventories are just taking a nose-dive,” Matt Sallee, who helps manage $16 billion in oil-related assets at Tortoise Capital Advisors LLC, said by telephone. The price gap that’s making American oil more attractive to overseas buyers is “supporting pretty robust exports.” Yet, gasoline stockpiles rose for a sixth week and diesel supplies unexpectedly edged higher. Click Read More below for additional information.

FedEx Corp. reported earnings of $2.84 per diluted share ($3.18 per diluted share on an adjusted basis) for the second quarter ended November 30, compared to earnings of $2.59 per diluted share ($2.77 per diluted share on an adjusted basis) a year ago. Both as-reported and adjusted fiscal 2018 earnings reflect the estimated negative impact of the June 27 cyberattack affecting TNT Express ($0.31 per diluted share). This year’s and last year’s quarterly consolidated earnings have been adjusted for TNT Express integration expenses of $0.33 and $0.18 per diluted share, respectively. Click Read More below for additional information.

Brent crude prices steadied on Wednesday while WTI futures edged higher, supported by expectations of a fall in U.S. inventories and the continued outage of the North Sea Forties pipeline system. “The API is the reason why the energy complex is slightly up this morning,” said Tamas Varga, analyst with PVM Oil Associates. The American Petroleum Institute said on Tuesday that U.S. crude inventories fell by 5.2 million barrels in the week to Dec. 15 to 438.7 million. Click Read More below for additional information.

Futures rose 0.7 percent in New York after slipping 0.2 percent on Monday. Inventories probably lost 3 million barrels last week, according to a Bloomberg survey before Energy Information Administration data Wednesday. Nigerian oil workers suspended strike action and agreed to continue talks next month, while output from a Libyan field returned to normal after a power outage. Oil has rallied the past three months as the Organization of Petroleum Exporting Countries and its allies reduce supply to drain a global glut. The unprecedented cooperation among producers, which has now been extended until the end of 2018, has crude prices on their way to a second annual advance. Click Read More below for additional information.

International technology Group ANDRITZ has successfully started up the MDF line II supplied to Panel Plus MDF Co. Ltd., based in Bangkok, Thailand, for its mill in Hat Yai. The pressurized refining and chip washing system supplied by ANDRITZ is the centerpiece of the line. It has a capacity of 30 bdmt/h and is characterized by low specific energy consumption as well as excellent reliability. The chip washing system using the ANDRITZ sedimentation technology is the first of its kind to be delivered to Thailand and will be used mainly for sand removal. The scope of supply also included a maintenance-friendly ANDRITZ C-Feeder that ensures minimum energy consumption, higher system stability, and longer refiner plate lifetime. Click Read More below for additional information.

The optimism for the U.S. benchmark came after Baker Hughes BHGE, -1.08% reported that the number of active U.S. rigs drilling for oil was down 4 at 747 last week, breaking a three-week string of rising rig numbers. A drop in rigs implies a slowdown in drilling activity, which is usually boost oil prices. Brent also got a boost from the closure of North Sea Forties pipeline due to a power outage. “The outage of the North Sea’s most important oil and gas pipeline is continuing to lend support,” analysts at Commerzbank said in a note. Click Read More below for additional information.

National Average Price for Regular – Current: $2.447; Month Ago: $2.564; Year Ago: $2.229. National Average Price for Diesel – Current: $2.834; Month Ago: $2.834; Year Ago: $2.440.

American Dollar to Canadian Dollar = 0.782780; American Dollar to Chinese Yuan = 0.151320; American Dollar to Euro = 1.179860; American Dollar to Japanese Yen = 0.008915; American Dollar to Mexican Peso = 0.052188.

Futures rose 0.2 percent, leaving prices in London little changed on the week. They jumped above $65 for the first time since 2015 earlier on Tuesday after the Forties pipeline in the U.K. shut down because of a crack. Those gains were eroded as the International Energy Agency’s voiced doubts the market would fully rebalance in 2018, diverging from the view of OPEC. “It’s been volatile,” Torbjorn Kjus, analyst at DNB Bank ASA, said by phone. If the Forties pipeline is “out for a month, it should have a positive effect” on prices as 10 million barrels of oil supply could easily be lost to the market. Click Read More below for additional information.

Oil prices eased back from session highs on Thursday after the International Energy Agency increased its forecast for U.S. oil output growth in 2018, raising the prospect of excess supply. The IEA raised its U.S. crude output growth forecast for 2018, saying it would climb by 870,000 barrels per day (bpd) compared with its November forecast of 790,000 bpd. With cash pouring into the U.S. shale oil industry, the United States is on track to deliver up to 80 percent of the world’s oil production gains through 2025, the IEA estimates. Click Read More below for additional information.

Oil prices rose on Wednesday as industry data showed a larger-than-expected drawdown in U.S. crude stockpiles, while expectations for an extended shutdown of a major North Sea crude pipeline also continued to bolster markets. Britain’s biggest pipeline from its North Sea oil and gas fields is likely to be shut for several weeks for repairs. On Wednesday morning, its operator said it was still considering repair options and reiterated that any repairs would take several weeks. Click Read More below for additional information.

Brent crude oil prices spiked to the highest level in 2½ years on Monday on news that a major pipeline in the U.K.'s North Sea will shut down for repairs. The Forties pipeline system will close for several weeks while its operator, INEOS, repairs a crack in a pipe discovered last week. The pipeline carries about 450,000 barrels a day of Forties crude from offshore fields in the North Sea to a processing plant in Scotland. Click Read More below for additional information.

Futures fell 0.3% in New York after climbing 2.5 percent in the previous two sessions. Drillers boosted the rig count by two to 751, a three-month high, according to Baker Hughes data on Friday. OPEC-led output curbs may end earlier than scheduled if the market re-balances by June, Kuwait’s then-oil minister said Sunday. Oil is heading for a second yearly gain as the Organization of Petroleum Exporting Countries and its allies including Russia extend supply cuts through the end of 2018. The extension includes an agreement to review the cuts in June, raising questions of how OPEC will eventually phase out the reductions. Shale explorers have signaled they’re gearing up for a drilling surge next year as hedging rose for an eighth week to a record. Click Read More below for additional information.

UPM Biofuels was chosen as the Bioenergy Industry Leader at the 2017 Platts Global Energy Awards - often described as the Oscars of the energy industry. The competition was arranged by S&P Global Platts, the leading independent provider of market information and benchmark prices for commodities in the energy sector. UPM Biofuels was nominated for its wood-based low emission advanced UPM BioVerno biofuels, and its one-of-a-kind commercial scale biorefinery in Lappeenranta, Finland. The choice was made among energy companies from nearly 30 countries representing four continents, including some of the world's leading energy giants. Click Read More below for additional information.

National Average Price for Regular – Current: $2.474; Month Ago: $2.548; Year Ago: $2.198. National Average Price for Diesel – Current: $2.840; Month Ago: $2.802; Year Ago: $2.426.

American Dollar to Canadian Dollar = 0.778153; American Dollar to Chinese Yuan = 0.151037; American Dollar to Euro = 1.173959; American Dollar to Japanese Yen = 0.008810; American Dollar to Mexican Peso = 0.052808.

Futures climbed 1.4 percent in New York, paring this week’s loss to 1.5 percent. China’s crude oil imports rebounded from a one-year low to near a record amid signs the nation’s commercial stockpiles shrank by the most in almost eight years. U.S. crude output increased to a record last week, while motor fuel inventories rose more than double analysts’ forecasts, government data showed Wednesday. U.S. crude production expanded for a seventh week to 9.7 million barrels a day, the highest level in weekly data compiled by the Energy Information Administration since 1983. Gasoline inventories rose by 6.78 million barrels last week, the biggest gain since January. Click Read More below for additional information.

Futures were little changed in New York after tumbling 2.9 percent Wednesday, the biggest daily drop since Oct. 6. Motor-fuel stockpiles rose by 6.78 million barrels last week for a fourth weekly advance, according to Energy Information Administration data. That’s more than double the most bearish estimate in a Bloomberg survey. U.S. oil output increased to a record. U.S. crude inventories fell by 5.61 million barrels last week, the EIA reported Wednesday. Oil production expanded for a seventh week to 9.7 million barrels a day, the highest level in weekly data compiled by the EIA since 1983. Click Read More below for additional information.

Futures dropped 1.3 percent in New York after rising 0.3 percent on Tuesday. Motor-fuel inventories climbed by 9.2 million barrels last week, the American Petroleum Institute was said to report. That would be the biggest gain since January 2016 if replicated in government data due later on Wednesday. Nationwide crude stockpiles declined, according to the API data. “This bears all the hallmarks of a year-end lull in U.S. fuel demand, which in turn should help safeguard the current bout of range-bound trading,” said Stephen Brennock, an analyst at PVM Oil Associates Ltd. in London. Click Read More below for additional information.

Oil steadied above $62 a barrel on Tuesday as expectations of a drop in U.S. crude inventories and prolonged supply curbs by OPEC and other producers countered rising output in the United States. An OPEC-led producer group last week extended a supply-cutting deal through 2018, but the resulting support for prices could bolster U.S. output which climbed to nearly 9.5 million barrels per day in September. An OPEC-led producer group last week extended a supply-cutting deal through 2018, but the resulting support for prices could bolster U.S. output which climbed to nearly 9.5 million barrels per day in September. Click Read More below for additional information.

Oil has advanced for the past three months amid optimism that output cuts by Organization of Petroleum Exporting Countries and its partners are helping to balance the market. Yet U.S. rivals have been expanding their operations, with drillers adding two oil rigs to reach 749 last week, the highest level since late September, according to Baker Hughes. “The OPEC deal will mostly work for non-OPEC,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt. “Even if OPEC delivers the cuts promised, and prices stay high long enough, the main result will be that U.S. shale adds on close to 1 million barrels a day of additional production.” Click Read More below for additional information.

Tronox Limited announced that, in connection with its planned acquisition of the titanium dioxide (TiO2) business of Cristal, a privately held global chemical and mining company headquartered in Jeddah, Saudi Arabia, the waiting period in the United States under the Hart-Scott-Rodino Act expired at 11:59 p.m. EST on December 1, 2017 without further action by or communication from the U.S. Federal Trade Commission. Jeffry Quinn, Tronox's chief executive officer, stated: "Based on consultation with counsel, we believe that expiration of the waiting period means that we can proceed toward completion of the transaction once all closing conditions are met. However, we have not been informed that the Federal Trade Commission has formally concluded its investigation. The Commission could conceivably seek to enjoin the transaction at a later time, but we believe such action would be unprecedented and contrary to the rationale of the pre-merger notification system that is the framework of the U.S. regulatory process."

National Average Price for Regular – Current: $2.490; Month Ago: $2.482; Year Ago: $2.162. National Average Price for Diesel – Current: $2.841; Month Ago: $2.752; Year Ago: $2.391.

American Dollar to Canadian Dollar = 0.776257; American Dollar to Chinese Yuan = 0.151306; American Dollar to Euro = 1.189857; American Dollar to Japanese Yen = 0.008896; American Dollar to Mexican Peso = 0.053491.

Weekly U.S. crude oil production hit the highest level on record last week, according to preliminary government data, in another sign of the resilience of American shale drillers. The United States produced 9.62 million barrels of oil a day in the week through Nov. 3, the U.S. Energy Information Administration reported on Wednesday. That just slightly topped a record high struck in June 2015, just before the oil price crash sparked a more than one-year decline that sent U.S. output to about 8.4 million barrels a day. Click Read More below for additional information.

Flint Group announced today the acquisition of Eston Chimica SRL located in Padova, Italy. This acquisition follows Flint Group’s strategy to grow not only organically, but also through tactical acquisition. Eston Chimica manufactures and sells water-based inks for flexo and gravure applications to printers predominantly located in Italy and Southern Europe. The company supports key Paper & Board applications, such as corrugated, shopping bags, paper bags, and various other water-based print jobs. Eston Chimica is located in northern Italy, near Venice, and employs 32 people. Kim Melander, Vice President & General Manager EMEA and Global Strategy, Paper & Board, says, "Flint Group is very happy to join together with Eston Chimica. We have found the ‘right’ partner; a company who, with the dedicated support of its employees, has been very successful in recent years outgrowing the market as compared to other suppliers.” Click Read More below for additional information.

Futures rose 1.6 percent in London. The curbs will last to the end of 2018, according to delegates at a ministerial meeting in Vienna. Talks have now moved on to the mechanism that will be used to review the agreement in the middle of next year, they said. Ministers also need to get Russia, their largest non-OPEC ally, on board at a meeting with other partner countries later on Thursday. Futures rose 1.6 percent in London. The curbs will last to the end of 2018, according to delegates at a ministerial meeting in Vienna. Talks have now moved on to the mechanism that will be used to review the agreement in the middle of next year, they said. Ministers also need to get Russia, their largest non-OPEC ally, on board at a meeting with other partner countries later on Thursday. Click Read More below for additional information.

Futures lost as much as 0.9 percent in New York after falling 1.6 percent the previous two sessions. U.S. crude inventories rose by 1.82 million barrels last week, the American Petroleum Institute was said to report, even as it noted a large decline at the storage hub in Cushing, Oklahoma. While all OPEC members support extending output curbs until the end of 2018, Russia hasn’t yet committed to the proposal, said people familiar with the matter. Oil has eased this week from the highest level in more than two years on uncertainty about the outcome of Thursday’s meeting of the Organization of Petroleum Exporting Countries. While the global glut relative to the five-year average has more than halved since January, the surplus still stands at 140 million barrels, OPEC Secretary-General Mohammad Barkindo said Monday. Click Read More below for additional information.

Futures dropped as much as 1.2 percent in London, extending Monday’s decline. Uncertainty over the outcome of Thursday’s meeting is creating the risk of a slide in prices, which have gained on assumptions that the curbs will be prolonged for nine months, according to Goldman Sachs Group Inc. OPEC backs such an extension but is still waiting for commitments from Russia, according to people familiar with the matter. Crude surged earlier this month on signs the Organization of Petroleum Exporting Countries and its partners will prolong cuts aimed at shrinking a global glut. Prices, time spreads and hedge-fund positioning all reflect a high probability the group will follow a Saudi proposal to extend the pact to the end of 2018, Goldman said. Yet Saudi Energy Minister Khalid Al-Falih said Tuesday that it’s too early to talk about the duration. Click Read More below for additional information.

Crude oil prices were mixed in Asia on Monday as the market turned cautious ahead of a key OPEC meeting near the end of the week. U.S. West Texas Intermediate (WTI) crude futures dipped 0.42% to $58.70 a barrel. ICE Brent crude futures, the benchmark for oil prices outside the U.S., rose 0.47% to $63.77 a barrel. This week, market participants will focus on the Organization of Petroleum Exporting Countries highly-anticipated meeting on Thursday to see whether major producers plan to extend their current production-cut agreement. Click Read More below for additional information.

“It does appear the only way is up for oil,” said Michael McCarthy, a chief strategist at CMC Markets in Sydney. “A lot of traders are speculating about the potential outcome of the OPEC meeting. Expectations are high and that could lead to disappointment if OPEC and its partners don’t deliver, but it doesn’t seem many are prepared to take the risk of that happening.” U.S. crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest oil-storage hub, dropped by 1.8 million barrels last week, the API said, according to people familiar with the data. Gasoline inventories expanded by 869,000 barrels, API data show. Click Read More below for additional information.

Ahead of next week's OPEC meeting in Vienna, strategists are closely watching swings in crude oil prices, which are faltering after weeks of gains. Despite political tensions involving oil superpower Saudi Arabia and OPEC's promises to cut production, crudeprices could come down by year-end, one strategist says. Here's why. • "Tensions in Saudi Arabia are still flaring following the actions by Crown Prince Mohammed bin Salman," Chantico Global CEO Gina Sanchez said Monday on CNBC's "Trading Nation," referring to a vast political shakeup in the kingdom earlier this month that initially boosted oil prices. • It is unlikely, however, that this will be an "actual geopolitical event," Sanchez said, and oil prices should continue settling. Click Read More below for additional information.

Oil dipped slightly last week on a weaker demand outlook while Russia cast doubts on the timing of a decision to extend supply cuts led by the Organization of Petroleum Exporting Countries. Wagers on lower Brent prices rose by the most since June through the week to Nov. 14 amid uncertainty over Saudi Arabia’s push to prolong output curbs. Yet an extension remains likely, according to PVM Oil Associates Ltd. “It is widely believed that OPEC, together with 10 non-OPEC countries, will roll over their production for the whole of 2018,” said Tamas Varga, an analyst at PVM in London. Click Read More below for additional information.

National Average Price for Regular – Current: $2.556; Month Ago: $2.465; Year Ago: $2.148. National Average Price for Diesel – Current: $2.837; Month Ago: $2.724; Year Ago: $2.393.

American Dollar to Canadian Dollar = 0.784071; American Dollar to Chinese Yuan = 0.150754; American Dollar to Euro = 1.179539; American Dollar to Japanese Yen = 0.008879; American Dollar to Mexican Peso = 0.052519.

India’s imports of African crude oil in October plunged to their lowest in over four years, with the world’s No.3 oil consumer increasingly turning to cheaper supplies from the United States and heavier Middle Eastern grades, ship tracking data showed. U.S. crude production has soared more than 14 percent since mid-2016 to 9.65 million barrels per day (bpd), altering trade routes as its relatively cheap and light grades become a viable import option for Asian refiners. “Earlier in Asia, West African oil was competing with Middle East grades, but now it has a new competitor: the U.S.,” said Ehsan Ul-Haq, director of crude oil and refined products at consultancy Resource Economist. Click Read More below for additional information.

Oil prices fell for a fourth session on Wednesday after the U.S. government reported an unexpected increase in crude and gasoline stockpiles, but an increase in refining runs and a drawdown in distillates helped prices bounce off session lows. Prices also remained under pressure from this week's International Energy Agency (IEA) outlook for slower growth in global crude demand. While the crude build of 1.9 million barrels reported by the Energy Information Administration was more than forecast, it was not as big as the increase of 6.5 million barrels reported on Tuesday by industry group the American Petroleum Institute. The EIA data encouraged buying at session lows. Click Read More below for additional information.

Futures lost as much as 1.3 percent in New York after falling 1.9 percent on Tuesday. U.S. inventories rose by 6.51 million barrels last week, the American Petroleum Institute was said to report. That would be the biggest gain since March if confirmed in government data on Wednesday. “The API data showed an inventory build, in contrast to expectations of a draw, which is weighing on the market,” said Giovanni Staunovo, a commodity analyst at UBS Group AG. “The Russian news doesn’t help either.” Gasoline inventories rose by 2.4 million barrels last week, the API said Tuesday, according to people familiar with the data. While the institute also reported a gain in crude stockpiles, a Bloomberg survey showed they may have shrunk by 2.4 million barrels. The U.S. Energy Information Administration will release the data at 10:30 a.m. New York time on Wednesday. Click Read More below for additional information.

For a generation, the huge, whitewashed storage tanks at America’s largest oil refinery in Port Arthur, Texas, have stored almost nothing but Saudi crude. The plant is owned by Saudi Arabia’s state-run oil company, Aramco, and since it first bought a stake in 1988, the Motiva refinery guaranteed the kingdom a strategic foothold in the world’s largest energy market. The tankers carrying millions of barrels a month of Arab Light crude from Saudi export terminals to Port Arthur were testament to the strength of the energy and political ties binding Riyadh and Washington. All of a sudden, there are very few Saudi ships arriving in Texas. Since July, Aramco has constricted supply, attempting to drain the crude storage tanks at Motiva -- and many others across America -- part of a plan to lift oil prices, even at the cost of sacrificing its once prized U.S. market. Click Read More below for additional information.

Futures were little changed in New York after falling 0.8 percent Friday. Prices still capped a fifth weekly gain last week, the longest run since October 2016. The plan to boost security was reported by Al-Arabiya television on Saturday, citing the energy ministry of Saudi Arabia, the world’s top crude exporter. The pipeline resumed pumping later in the day after a brief halt. Oil has climbed about 20 percent since the start of September as global supplies tighten and speculation mounts that the Organization of Petroleum Exporting Countries will extend output curbs past the end of March. In the U.S., drillers last week increased the rig count by the most since June, according to Baker Hughes. “Political developments in Saudi Arabia sent bullish ripples across the energy complex,” said Stephen Brennock, an analyst at PVM Oil Associates Ltd. in London. Click Read More below for additional information.

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.

American Dollar to Canadian Dollar = 0.788990; American Dollar to Chinese Yuan = 0.150565; American Dollar to Euro = 1.164367; American Dollar to Japanese Yen = 0.008819; American Dollar to Mexican Peso = 0.052392.

Oil is heading for the longest run of weekly gains since October 2016 as global supplies tighten and on signs the Organization of Petroleum Exporting Countries will extend output curbs past the end of March. Saudi Arabia on Thursday advised its nationals to leave Lebanon, fueling fears of a confrontation with Iran in a country long known for being a battleground for proxy wars in the Middle East. “Geopolitical risks have taken center stage in the oil market again,” said Jens Naervig Pedersen, senior analyst at Danske Bank A/S in Copenhagen. “The rising tensions between Saudi Arabia and Iran have raised concerns in the oil market of an imminent supply disruption.” Saudi Arabia said it plans to cut crude exports to all the regions it ships to next month. Shipments will fall by 120,000 barrels a day in December from November, a spokesman for the Energy Ministry said, without specifying what those levels would be. Bloomberg calculations from vessel-tracking data estimated flows in October at 6.989 million a day. Click Read More below for additional information.

With demand for the fuel accelerating in September after a hurricane knocked out a swath of U.S. refining and fires eliminated processing in Europe’s hub, diesel was credited with underpinning a rally in crude. Brent jumped above $60 a barrel last month and is still on an upward trajectory. But while those refinery issues are normalizing -- and diesel is weakening -- there’s been little let-up in the rally in crude futures. They reached a more than two-year high of $64.65 a barrel on Nov. 7, and remain close to that. “This will counter the recent support to crude,” Alan Gelder, vice-president of refining, chemicals and oil markets at Wood Mackenzie, said of signs the diesel market is weaker than expected. “Particularly if demand growth turns out to be disappointing” given the importance of diesel as a source of consumption during winter months. Click Read More below for additional information.

Futures were little changed after slipping 0.3 percent on Tuesday, the first decline in four sessions. Crude inventories fell by 1.56 million barrels last week, while motor-fuel stockpiles gained 520,000 barrels, the industry-funded American Petroleum Institute was said to report. A Bloomberg survey forecast a 2.45 million-barrel oil-supply drop ahead of government data Wednesday. “The U.S. shale machine is poised to shift up a gear as producers make hay amid the healthier price backdrop,” said Stephen Brennock, an analyst at PVM Oil Associates Ltd. West Texas Intermediate for December delivery slid 8 cents to $57.12 a barrel on the New York Mercantile Exchange at 10:04 a.m. London time. Total volume traded was 12 percent below the 100-day average. Prices slipped from the highest level in more than two years to close at $57.20 on Tuesday. Click Read More below for additional information.

Oil traded near the highest level in more than two years as political upheaval in top crude exporter Saudi Arabia reverberated through a market where prices were already elevated by signs of tightening supply. Investors have piled into oil as a shake-up of the ruling elite in OPEC’s biggest producer was seen to consolidate power with Crown Prince Mohammed bin Salman, who backs extending the group’s output cuts aimed at clearing a global glut. The purge also raised concern over instability in the kingdom, supporting a geopolitical-risk premium on crude that’s emerged with heightened tensions surrounding nations such as Iraq and Iran. Oil’s gained more than 20 percent since the beginning of September on signs global supplies are tightening and the Organization of Petroleum Exporting Countries and its allies may prolong their output deal past March. Click Read More below for additional information.

Crude prices started the week on an upbeat note on Monday, boosted by expectations that oil producing countries will agree to extend an output cut at their meeting at the end of this month. Under the original terms of the deal, OPEC and 10 other non-OPEC countries led by Russia agreed to cut production by 1.8 million barrels a day (bpd) for six months. The agreement was extended in May of this year for a period of nine more months until March 2018 in a bid to reduce global oil inventories and support oil prices. Prices received another boost as a sizable weekly drop in active U.S. oil rigs to the lowest level since May fed expectations for a slowdown in domestic crude output growth. Click Read More below for additional information.

National Average Price for Regular – Current: $2.517; Month Ago: $2.543; Year Ago: $2.218. National Average Price for Diesel – Current: $2.772; Month Ago: $2.733; Year Ago: $2.422.

American Dollar to Canadian Dollar = 0.779492; American Dollar to Chinese Yuan = 0.150886; American Dollar to Euro = 1.164568; American Dollar to Japanese Yen = 0.008766; American Dollar to Mexican Peso = 0.052415.

U.S. crude prices retreated after coming within striking distance of their 2017 high on Wednesday, raising questions about whether a rally that started in June has reached its peak. On the one hand, the trend of future oil prices suggests that a prolonged global glut of crude is coming to an end. But at these elevated levels, prices are also susceptible to disappointing data points and profit-taking as traders look to cash in on recent gains. Crude futures shed more than $1 a barrel on Wednesday after government data showed U.S. crude stockpiles declined less than earlier industry figures indicated. The Energy Department's report also showed U.S. oil exports hit an all-time high, while the nation's production crept toward record levels. Click Read More below for additional information.

“OPEC may be trumpeting success as inventories close their gap to the most recent five-year average,” said Harry Tchilinguirian, head of commodity markets strategy at BNP Paribas SA. “It has progressed, but OPEC is not out of the woods. The stock-draws are not enough to reverse the large builds in oil inventories that we saw between 2014 and 2016.” U.S. crude output rose by 46,000 barrels a day to 9.55 million a day, according to a report Wednesday by the EIA. That’s the highest level in a month. Gasoline stockpiles fell for a second week to 212.8 million barrels, the lowest level since August 2015. Click Read More below for additional information.

Sun Chemical has acquired the assets and business of Transitions Digital Graphics, LLC. Based in Santa Barbara, Calif., Transitions Digital Graphics is a leader in the development of changeable advertising signage and displays which utilize invisible ink. “Transitions Digital Graphics is a technology company with a compelling advertising display solution that brings an interactive visual experience for consumers,” said Mehran Yazdani, President of Sun Chemical Advanced Materials. “This acquisition will strengthen our strategic initiative in electronic packaging by providing exciting new solutions in point of sale advertising. It also supports our strategy of continued expansion into sustainable high growth, high value markets.” Click Read More below for additional information.

Global benchmark Brent crude topped $60 a barrel last month for the first time since July 2015, while West Texas Intermediate, the U.S. marker, is set for the highest close in two years as Saudi Arabia and Russia signaled support for extending supply cuts well into 2018. The market was also buoyed by conflict between the Iraqi central government and Kurdish forces that threatened crude production from northern fields in the OPEC nation. “U.S. stock draws have been leading and continue to lead the market higher,” said Olivier Jakob, managing director at Petromatrix GmbH in Zug, Switzerland. Click Read More below for additional information.

Futures were little changed in New York and are up 4.8 percent this month, after rallying 9.4 percent in September. U.S. crude inventories probably declined for a fifth time in six weeks, according to a Bloomberg survey before government data due Wednesday. Saudi Arabian Crown Prince Mohammed bin Salman said last week that he backed prolonging supply curbs, following a similar endorsement by Russian President Vladimir Putin earlier this month. Global benchmark Brent crude this month topped $60 a barrel for the first time since 2015 on hopes the Organization of Petroleum Exporting Countries and partners including Russia will prolong their curbs aimed at eliminating a glut. Prices were also boosted by fighting between Iraqi government troops and Kurdish forces in the oil-rich Kirkuk region. Still, the potential for continued supplies from U.S. shale fields is a concern. Click Read More below for additional information.

Oil started the week off with mixed readings after last week’s nearly 5% rise as investor sentiment in black gold continued to be buoyed by hopes of extension to the OPEC-led deal to curb production. U.S. crude showed cautious trade around the unchanged mark Monday with the benchmark unable to hold the $54 mark, though the London barrel managed to extend gains. The U.S. West Texas Intermediate crude December contract slipped 2 cents, or 0.04%, to $53.88 a barrel by 5:12AM ET (9:12GMT). Click Read More below for additional information.

In our modern world, eliminating plastics is inconceivable. Unfortunately, they do have disadvantages, including the formation of CO2 in both production and combustion, depletion of fossil feedstocks, and growth of landfills. In the journal Angewandte Chemie, Russian researchers introduce a new way forward, a polymer made entirely from biomass that can easily and inexpensively be used in 3D printing. Objects produced in this way are of high quality, easily recyclable, and highly solvent-resistant. Conventional “subtractive” processes involve cutting, sawing, turning, or milling, which results in a great deal of wasted material. In contrast, 3D printing processes are, in principle, waste-free, because they are “additive”: three-dimensional objects are produced in a layer-by-layer application of material. The most common technique is called fused deposition modeling (FDM). In this process, the raw material is squirted through a hot nozzle onto a mobile base and thereby liquefied (extrusion). The printer head produces the programmed form like in a conventional two-dimensional printing process, releasing small amounts of the polymer instead of ink. This is repeated for layer after layer until the desired three-dimensional object is complete. Yet, the polymers used until now have a number of disadvantages that limit their use. Some of the polymers are attacked by organic solvents. Those that withstand the solvents, on the other hand, adhere poorly and shrink on heating, allowing their layers to come apart and causing errors in the printing process. Click Read More below for additional information.

National Average Price for Regular – Current: $2.466; Month Ago: $2.571; Year Ago: $2.225. National Average Price for Diesel – Current: $2.738; Month Ago: $2.725; Year Ago: $2.422.

American Dollar to Canadian Dollar = 0.776214; American Dollar to Chinese Yuan = 0.150313; American Dollar to Euro = 1.161353; American Dollar to Japanese Yen = 0.008759; American Dollar to Mexican Peso = 0.051954.

Futures were little changed near $60 a barrel in London, up 2.6 percent for the week. The prince said Thursday that “of course” he wanted to prolong the curbs beyond the end of March 2018. OPEC is considering an exit strategy to avoid flooding the market once the agreement finally expires, people familiar with the talks said this week. Total SA’s Chief Executive Officer Patrick Pouyanne said the imbalance between crude supply and demand is finally dissipating. Brent has gained as speculation mounts the Organization of Petroleum Exporting Countries will agree at its Nov. 30 meeting to extend cuts by its members and allied nations aimed at draining a global glut. Click Read More below for additional information.

Futures were little changed in New York after falling 0.6 percent on Wednesday. Prince Mohammed said in an interview with Bloomberg News in Riyadh that "of course" he wanted to extend OPEC’s production cuts in 2018, making it all but certain the group and its allies will roll over the curbs at a meeting next month. Oil is holding gains above $50 a barrel as speculation mounts that supply curbs by members of the Organization of Petroleum Exporting Countries and its allies including Russia will be prolonged when they meet in Vienna on Nov. 30. In Iraq, the state oil company is working with a Kurdish firm to resume pumping at two disputed fields after government troops recaptured them from Kurdish forces. Click Read More below for additional information.

U.S. Paper Converters Inc. announced Monday it's shutting down its Appleton facility, leaving more than 50 people without a job. It's the latest in a series of devastating closures and layoffs from paper companies in the Fox Valley. Prior to this, Appleton Coated announced it was in receivership before being sold to a liquidation company. Hundreds of people were laid off, and many are trying to find work through the Bay Area Workforce Development Board. Some of those laid off employees said they know exactly how the U.S. Paper Converters employees feel. Click Read More below for additional information.

The market “looks a lot more bullish than it did three or four months ago,” said James Williams, president of London, Arkansas-based energy researcher WTRG Economics. The stockpile declines aren’t surprising since “refinery utilization is coming down this time of year because it’s turnaround season,” he said. Nonetheless, he predicted prices will rally again Wednesday if the government confirms the drops. The Organization of Petroleum Exporting Countries is expected to extend supply cuts beyond their March expiration date, which has supported oil above the key $50-a-barrel psychological threshold. In addition, oil demand is proving more resilient than some expected, Saudi Arabia’s Minister of Energy and Industry Khalid Al-Falih said in Riyadh. Stockpiles at Cushing, Oklahoma, the delivery point for New York-traded futures contracts, probably declined by 500,000 barrels, according to a separate forecast compiled by Bloomberg. A Bloomberg survey estimated that U.S crude stockpiles slid by 3 million barrels last week, while gasoline stockpiles probably rose by 1.7 million barrels. The API report also showed crude stockpiles rose by 519,000 barrels, while Cushing supplies fell by 55,000 barrels last week. A draw at Cushing would be the first since August if the Energy Information Administration confirms it in its data release on Wednesday. Click Read More below for additional information.

Oil is holding above $50 a barrel as speculation mounts that members of the Organization of Petroleum Exporting Countries will prolong supply curbs to prevent the market returning to surplus next year. At the same time, there are signs that growth in U.S. shale oil, which has kept a lid on prices, may be slowing as drilling declines. “The market will probably take it positively if OPEC can explain their thinking on how it works when they’re not voluntarily holding back oil from the market anymore,” Torbjorn Kjus, analyst at DNB Markets said. “There’s a fear in the market that when the deal runs out, then it’s every man for himself again, and that’s not what they’re thinking.” Click Read More below for additional information.

December futures were little-changed in New York. OPEC and its partners including Russia achieved a record-high level of compliance to output cuts during September, according to a statement on Saturday. In the U.S., drillers reduced the rig count for a third week to the lowest since June, according to Baker Hughes. “The lower U.S. rig count number, the OPEC compliance number and the geopolitical headlines from northern Iraq and Iran on sanctions have helped futures higher,” Ole Hansen, head of commodity strategy at Saxo Bank A/S said. “But there are signs the market could be weakening with the seasonal refinery demand slowdown.” One sign that demand could be weakening is the Brent market structure known as backwardation -- when prompt prices are more expensive than later-dated futures -- which isn’t as strong as a month ago, said Hansen. Click Read More below for additional information.

National Average Price for Regular – Current: $2.458; Month Ago: $2.607; Year Ago: $2.232. National Average Price for Diesel – Current: $2.729; Month Ago: $2.720; Year Ago: $2.420.

American Dollar to Canadian Dollar = 0.800895; American Dollar to Chinese Yuan = 0.151079; American Dollar to Euro = 1.181784; American Dollar to Japanese Yen = 0.008840; American Dollar to Mexican Peso = 0.052958.

While oil investors are grappling with geopolitical risks, the potential impact of tensions in the Middle East is uncertain, Goldman Sachs Group Inc. said Tuesday. While the conflict between Iraq’s central government and the semi-autonomous Kurds cut crude flows through a Turkish pipeline, the disruption may be short lived. Meanwhile, OPEC sent its strongest signal yet that its output cuts will be extended until the end of 2018. The flow rate through the pipeline from Kurdish region to the Turkish port of Ceyhan was about 200,000 barrels a day, according to a port agent report. That was unchanged from Thursday, but down from about 600,000 barrels a day before the conflict began. U.S. gasoline inventories expanded by 908,000 barrels last week, while distillate supplies climbed by 528,000 barrels to 134.5 million barrels, according to the Energy Information Administration. Crude stockpiles declined for a fourth week, down by 5.731 million barrels to 456.5 million barrels, the data showed. Click Read More below for additional information.

Crude had risen since late last week as tensions in Iraq, OPEC’s second-largest producer, led to the halt of production at two Kirkuk fields. The resulting export curbs pushed oil in the U.S. to a three-week high on Wednesday but Brent has failed to breach last month’s peak and dropped below $58 following the inventory data. Prices reflect “oil bulls taking profit after the supply disruption in Iraq failed to drive Brent to new highs,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S. “It’s a classic risk-off move. On balance, I believe yesterday’s EIA report was net bearish.” U.S. gasoline inventories expanded by 908,000 barrels last week, while distillate supplies climbed to 134.5 million barrels, according to the Energy Information Administration. Refinery utilization slipped as plants including Exxon Mobil Corp.’s Joliet refinery in Illinois were said to carry out maintenance. Click Read More below for additional information.

Futures in New York rose as much as 0.6 percent after adding 2.5 percent in the past three sessions. An industry report showed U.S. inventories fell last week, with government data Wednesday forecast to show a fourth straight drop. Crude’s recent gains have been driven by fighting between the Iraqi government and Kurdish forces in the oil-rich Kirkuk region, which could stoke tensions beyond the country’s borders. Iraq is just one of the oil market’s geopolitical risks, with uncertainty also growing over tensions between Iran and the U.S., Goldman Sachs Group Inc. said Tuesday. The Persian Gulf nation said it would support an extension of OPEC output cuts to the end of 2018 and insisted its production plans won’t be disrupted by U.S. President Donald Trump’s disavowal of the nuclear deal that’s boosted its exports. Click Read More below for additional information.

Oil prices continued to climb Tuesday amid fighting in Iraq that threatened production from northern Iraq and as the relationship between the United States and Iran risked more strain. Iraqi forces on Monday clashed with fighters from Iraq’s semi-autonomous Kurdish region in the oil-rich province of Kirkuk, in a continuing standoff over Kurdish independence. The violence followed a referendum late September in which the Kurds voted overwhelmingly in favor of independence, in defiance of the central government in Baghdad and other regional powers. Click Read More below for additional information.

Iraqi forces advanced toward the disputed city of Kirkuk, as the government sharply intensified its efforts to stall moves toward a Kurdish state by seizing the oil fields that would underpin its economy. Crude exports from the disputed area were flowing normally on Monday. State-run Iraqiya television said the military had also captured a refinery, a gas plant and a main road in Kirkuk, which has emerged as a flashpoint in the power struggle between the federal government in Baghdad and the Kurdistan Regional Government. The Associated Press reported that Kurdish fighters had abandoned their positions outside Kirkuk’s airport while civilians were fleeing the city, where sporadic gunfire could be heard. Click Read More below for additional information.

National Average Price for Regular – Current: $2.481; Month Ago: $2.656; Year Ago: $2.253. National Average Price for Diesel – Current: $2.726; Month Ago: $2.717; Year Ago: $2.412.

American Dollar to Canadian Dollar = 0.801207; American Dollar to Chinese Yuan = 0.151787; American Dollar to Euro = 1.181003; American Dollar to Japanese Yen = 0.008910; American Dollar to Mexican Peso = 0.052739.

Futures added 1.5 percent in New York. China’s crude imports last month jumped to the second-highest on record, customs data show, while U.S. government data on Thursday showed crude inventories fell by 2.75 million barrels last week. OPEC is said to expect a global oil glut will be gone a year from now. President Donald Trump is expected on Friday to disavow a deal with Iran that helped revive its oil exports, while stopping short of abandoning it. Oil has rebounded from the biggest weekly loss since May on signs that output cuts led by the Organization of Petroleum Exporting Countries are draining a surplus. OPEC expects the effort to succeed by the end of the third quarter of next year, said people familiar with the group’s internal forecasts. The prediction assumes that production in Libya and Nigeria will remain at current levels and U.S. shale output will expand by no more than 500,000 barrels a day next year, two people familiar with the matter said. Click Read More below for additional information.

Futures lost 0.9 percent in New York after climbing 4.1 percent in the previous three sessions. Inventories rose by 3.1 million barrels last week, the American Petroleum Institute was said to report. Energy Information Administration data Thursday is forecast to show stockpiles dropped for a third week. Global supply and demand estimates for 2018 indicate that stockpiles may not fall further, potentially capping prices, according to the International Energy Agency. “According to the IEA’s calculation, at the current level of OPEC production there will be no global stock draws next year,” said Olivier Jakob, managing director of consultants Petromatrix GmbH in Zug, Switzerland. “If the IEA is right, then markets will continue to trade in the narrow” price band seen recently. Global oil stockpiles will fall this year by 300,000 barrels a day as stronger demand and output curbs by OPEC and Russia whittle away a surplus, the IEA said Thursday in its monthly report. Still, even if the producers decide to continue with the cuts next year, surging supplies from the U.S. and elsewhere will prevent inventories dropping further. Click Read More below for additional information.

Futures added 0.7 percent in New York after advancing 3.3 percent the previous two sessions. The global economic recovery has gained traction and oil de-stocking gathered pace in recent months, Barkindo said Tuesday. Producers in the U.S. Gulf have cut output by a million barrels a day, or 59 percent, because of Tropical Storm Nate, the Bureau of Safety & Environmental Enforcement said. Oil has inched higher in the past few days -- following the biggest weekly loss since May -- on signs of tighter supply. U.S. crude stockpiles probably fell by 2.4 million barrels last week, according to a Bloomberg survey before an Energy Information Administration report Thursday. Barkindo, speaking in New Delhi, said the Organization of Petroleum Exporting Countries had boosted oil-demand estimates for this year and next. “OPEC is talking to a market which is currently prepared to listen, given the visible improvements seen during the past few months,” said Ole Sloth Hansen, head of commodity strategy at Saxo Bank A/S. Click Read More below for more of the story.

Futures rose 0.8 percent after advancing 0.6 percent on Monday, rebounding from a weekly loss. Crude stockpiles probably slid by 750,000 barrels last week, a Bloomberg survey showed before an Energy Information Administration report due Thursday. Oil last week fell the most since May on speculation rising global output may offset supply curbs led by members of the Organization of Petroleum Exporting Countries. The output-cuts deal is set to expire at the end of March and the group is likely to discuss an extension at its next meeting on Nov. 30. Its de facto leader, Saudi Arabia, said state oil company Saudi Aramco will ship 560,000 barrels a day less than customers are requesting in November. Saudi Aramco plans to supply 7.15 million barrels a day “despite very strong demand” that exceeds 7.7 million barrels a day, the Saudi Energy Ministry said in a statement. Click Read More below for more of the story.

UPS confirmed contract talks with the International Brotherhood of Teamsters have begun on new collective bargaining agreements. The current five-year contract continues through July 31, 2018. “UPS and the union have many shared objectives and our intent is to negotiate in an environment of mutual respect,” said Al Gudim, UPS Labor Relations President. “We believe all parties recognize that taking care of our customers with reliable service is the key to maintaining a company that rewards our employees and provides excellent job security. We are in a rapidly changing industry and look forward to working together with union negotiators to strongly position UPS for the future.” Click Read More below for more of the story.

Oil prices stabilized on Monday after one of the most bearish weeks in months, propped up by OPEC comments signaling the group and other producers may take further action to restore market balance in the long term. Oil production platforms in the Gulf of Mexico started returning to service after Hurricane Nate had forced the shutdown of more than 90 percent of crude output in the area. The prospective restarts kept price gains in check. “Oil is having trouble to find direction. Mixed signals keep investors busy changing their minds,” said Hans van Cleef, senior energy economist at ABN Amro. Click Read More below for more of the story.

National Average Price for Regular – Current: $2.514; Month Ago: $2.661; Year Ago: $2.246. National Average Price for Diesel – Current: $2.732; Month Ago: $2.683; Year Ago: $2.376.

American Dollar to Canadian Dollar = 0.795552; American Dollar to Chinese Yuan = 0.150356; American Dollar to Euro = 1.170767; American Dollar to Japanese Yen = 0.008854; American Dollar to Mexican Peso = 0.054006.

Oil prices were mixed Friday as investors waited to see the potential impact of Tropical Storm Nate on U.S. Gulf Coast oil infrastructure. “As we come into the weekend, the market is focusing on the implications of Tropical Storm Nate and how big any disruptions will be” on crude production and refining capacity, said Richard Mallinson, an analyst at consultancy Energy Aspects. As with Hurricane Harvey in August, the “tendency is for the focus to be more on refinery shutdowns, which is probably more positive for product prices and probably a little bearish for crude prices,” Mr. Mallinson said. Click Read More below for more of the story.

Futures added 0.4 percent after settling at a two-week low on Wednesday. Overseas shipments from the U.S. jumped to a record last week as production rose, government data showed. In Russia, President Vladimir Putin said he’s open to prolonging a deal with OPEC to curb supplies, though a decision won’t be made until the current agreement nears expiry in March. Saudi King Salman bin Abdulaziz began a four-day visit to the nation on Wednesday. “U.S. production is almost at a record-high level, and exports are record-high,” said Michael Poulsen, an analyst at Global Risk Management Ltd. “As this U.S. production is a fundamental part of the oil market, such news weighs heavily.” Lower demand from U.S. Gulf Coast refiners that are still recovering from Hurricane Harvey in August has caused crude sellers to seek markets abroad, triggering shipments of 1.98 million barrels a day, the highest level in weekly government data compiled since 1993. The figure was about a third higher than the previous record, set the prior week. Click Read More below for additional detail.

Electric mobility is gaining ground worldwide, and its importance will continue to grow at a fast pace in the coming years. One of the biggest challenges in this is the rapid expansion of the charging infrastructure: today in Germany, for example, there are just 25,000 public charging points (source: statista.de, May 2017). However, around five times as many would be needed for the planned number of one million electric cars by the year 2020. It is therefore clear that there is a huge need for an extensive network of publicly available and private charging stations with the appropriate charging capacity. “We’re confident that we’re at a turning point when it comes to electric mobility,” says Rainer Hundsdörfer, CEO of Heidelberg. “Electric cars are becoming a real option for more and more drivers. We want to take advantage of this trend, and put our expertise to work to benefit from this growth market.” Click Read More below for additional detail.

Futures lost as much as 1 percent in New York, after falling 2.4 percent in the previous two sessions. Gasoline supplies rose by 4.91 million barrels last week, the American Petroleum Institute was said to report. That will be the biggest gain since January if replicated in government data Wednesday. Libya is gradually resuming output at its biggest oil field, people familiar with the matter said. Nationwide crude stockpiles fell by 4.08 million barrels last week, the API said Tuesday, according to people familiar with the data. Crude stockpiles at Cushing, Oklahoma, climbed by 2.08 million barrels. An Energy Information Administration report Wednesday is forecast to show supplies slid by 500,000 barrels, according to the median estimate in a Bloomberg survey. Click Read More below for more of the story.

West Texas Intermediate futures were little changed after dropping 2.1 percent to a one-week low on Monday. The Organization of Petroleum Exporting Countries pumped 32.83 million barrels a day in September, up 120,000 barrels a day from August, according to data compiled by Bloomberg. Libyan production is set to recover from a five-month low as the nation’s biggest field restarts following a brief halt. “With news of Libyan output looking to recover back to the 1 million-barrel-a-day level, oil bulls need to hold out for another bout of news on geopolitics,” said Jens Naervig Pedersen, senior analyst at Danske Bank A/S in Copenhagen. Click Read More below for additional detail.

Crude oil prices started the week on the back foot on Monday, but remained close to their best levels in months amid optimism that the crude market was well on its way towards rebalancing. U.S. West Texas Intermediate (WTI) crude futures shed 11 cents, or around 0.2%, to $51.56 a barrel by 3:20AM ET (0720GMT), remaining within sight of a five-month high reached last week. WTI prices gained around 2% last week to notch their fourth-straight weekly climb. It ended September with an increase of roughly 9.5% and saw quarterly rise of about 12%. Click Read More below for more of the story.

National Average Price for Regular – Current: $2.568; Month Ago: $2.378; Year Ago: $2.209. National Average Price for Diesel – Current: $2.729; Month Ago: $2.541; Year Ago: $2.354.

American Dollar to Canadian Dollar = 0.804502 American Dollar to Chinese Yuan = 0.150400; American Dollar to Euro = 1.181477; American Dollar to Japanese Yen = 0.008892; American Dollar to Mexican Peso = 0.055113.

Futures were little changed in New York, up more than 9 percent in September. Oil this week returned to a bull market on signs the persistent crude surplus was finally starting to shrink, while Trafigura Group and Citigroup Inc. warned of the potential for a further supply squeeze in 2018. The Organization of Petroleum Exporting Countries and Russia have hailed the success of their agreement to cut production and urged their allies to stay focused on finishing the job. U.S. Gulf Coast refiners restarted after last month’s hurricanes. Click Read More below for additional detail.

Turkey agrees to deal only with Iraq’s central government for all crude that the OPEC nation exports through a Turkish pipeline, the Iraqi prime minister said, days after Iraq’s self-governed Kurds, who ship their own oil via the same network, approved a referendum on independence. The comments suggest the Turks may be reviewing their policy of letting Iraq’s landlocked Kurds export oil independently through the Turkish-controlled pipeline. Crude was flowing normally through the network on Thursday. The Kurds export less than 600,000 barrels a day, according to a tweet by the Kurdistan Regional Government’s Ministry of Natural Resources on Sept. 24. Turkish Prime Minister Binali Yildirim asserted his country’s support for “restricting oil exports to the federal authorities” in Iraq, he said in a phone call with his Iraqi counterpart, Haider Al-Abadi, according to an emailed statement on Thursday from Al-Abadi’s office in Baghdad. Click Read More below for more of the story.

“The API numbers did surprise, and I would be even more surprised to see them being repeated,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S. “We have reached a price level with which even OPEC is likely to be satisfied. I’m not sure whether Russia would like to play ball for such an extended period especially into the peak demand season.” Gasoline stocks rose by 1.47 million barrels and distillates fell by 4.53 million barrels last week, the API reported Tuesday, according to a person familiar with the data. U.S. crude inventories probably rose by 3.1 million barrels, according to the Bloomberg survey before an Energy Information Administration report. Click Read More below for more of the story.

Crude in New York fell 0.4 percent as traders cashed in after yesterday’s 3.1 percent surge. The oil market is nearing the end of the “lower for longer” era with a shortage likely in 2019, trading house Trafigura said Tuesday. Turkey can “close the valves” on oil shipments from Kurdistan, Turkish President Recep Tayyip Erdogan said after the Iraqi region held a vote on independence. Oil has gained more than 10 percent this month on forecasts for rising crude demand and as members of the Organization of Petroleum Exporting Countries maintain production cuts to drain a global glut. The market rebalancing has helped flip the futures curve into backwardation, a structure where immediate deliveries of oil are more expensive than longer-dated ones, signaling strong demand. Brent prices jumped to a two-year high on Monday before retreating Tuesday. “It’s pure profit taking,” Torbjorn Kjus, oil market analyst at DNB Bank ASA said by phone. “It’s very natural. The most natural thing would be if we lose some more during the day, but so far it’s holding up almost unexpectedly well after that very large rally yesterday.” Click Read More below for more of the story.

National Average Price for Regular – Current: $2.589; Month Ago: $2.337; Year Ago: $2.215. National Average Price for Diesel – Current: $2.720; Month Ago: $2.527; Year Ago: $2.358.

American Dollar to Canadian Dollar = 0.815177 American Dollar to Chinese Yuan = 0.151780; American Dollar to Euro = 1.197371; American Dollar to Japanese Yen = 0.008930; American Dollar to Mexican Peso = 0.056213.

Oil has advanced this month on forecasts for rising crude demand and as U.S. Gulf Coast plants recover from Hurricane Harvey, which halted almost a quarter of the nation’s refining capacity. Nine months into the OPEC-led supply agreement, implementation of the pledged production cuts remains high. Nigeria, which is currently exempt from making cuts, reiterated that it would accept a cap once output stabilizes around 1.8 million barrels a day. “Today’s meeting of the Joint Ministerial Monitoring Committee is lending buoyancy,” Commerzbank said in a note. “Although no binding promises to extend or expand the agreement can be expected, Nigeria – which like Libya had not signed up to the production cuts – is at least showing a willingness to come on board.” Click Read More below for more of the story.

November futures dropped 0.5 percent in New York after climbing 1.6 percent Wednesday. Gasoline supplies dropped a third week to the lowest level since November 2015, while distillate stockpiles fell by the biggest amount since 2011, according to government data. Crude inventories expanded by 4.59 million barrels last week, more than the 3.9 million-barrel gain projected in a Bloomberg survey. U.S. oil production also rose a second week. “The market focused on the sharp recovery in crude demand implied” by the decline in fuel inventories on Wednesday, said Jens Naervig Pedersen, a senior analyst at Danske Bank A/S in Copenhagen. “It adds to the bullish sentiment buoyed by concerns about the Iran nuclear deal and headlines about OPEC looking at a possible extension of output cuts.” U.S. gasoline stockpiles fell by 2.13 million barrels last week to 216.2 million, the Energy Information Administration reported Wednesday. Distillate inventories, a category that includes diesel, dropped by 5.69 million barrels. Crude output expanded by 157,000 barrels a day to 9.51 million a day. Click Read More below for more of the story.

Futures climbed as much as 1.3 percent in New York after declining 0.9 percent Tuesday. Inventories expanded by 1.44 million barrels last week, the American Petroleum Institute was said to report. That’s less than half the projected 3.9 million-barrel increase the government is forecast to report Wednesday. Some U.S. refiners are delaying maintenance to take advantage of strong margins. While oil has rebounded the past two weeks, crude in the U.S. has struggled to hold above $50 a barrel as prices beyond that level make some shale profitable and boost supply. At the same time, the Organization of Petroleum Exporting Countries and its allies are said to be discussing extending by more than three months the output cuts that expire in March. Iraq, the group’s second-biggest producer, has said production should be reduced by an additional 1 percent to help rebalance the market. Click Read More below for additional detail.

West Texas Intermediate futures added 0.4 percent. Iraqi Oil Minister Jabbar al-Luaibi said there’s support in the Organization of Petroleum Exporting Countries to deepen output curbs by about 1 percent. Still, Iraq has failed to deliver the supply cuts it committed to under the current agreement. U.S. refiners are delaying scheduled maintenance as they resume operations after Hurricane Harvey, supporting demand for crude. Iraq’s suggestion “has a minor influence on prices -- if it would have come from Saudi Arabia, it would probably have had a bigger impact,” said Giovanni Staunovo, an analyst at UBS Group AG in Zurich. Click Read More below for more of the story.

“The U.S. oil rig count, a key indicator for trader sentiment, exhibited a rather large weekly decline,” said analysts at consultants JBC Energy GmbH in Vienna. “At least in the short term, this dynamic should help protect the downside to crude prices. The more pressing question may be how much higher prices can climb before the gravitational forces of global supply and demand can start to form an upper limit.” West Texas Intermediate for October delivery rose as much as 44 cents, or 0.9 percent, to $50.33 a barrel on the New York Mercantile Exchange, and traded for $49.91 at 10:43 a.m. London time. On Sept. 14, it reached $50.50, the highest since May 25. Total volume traded was about 26 percent below the 100-day average. Click Read More below for additional detail.

National Average Price for Regular – Current: $2.642; Month Ago: $2.350; Year Ago: $2.182. National Average Price for Diesel – Current: $2.719; Month Ago: $2.528; Year Ago: $2.357.

American Dollar to Canadian Dollar = 0.823076 American Dollar to Chinese Yuan = 0.152812; American Dollar to Euro = 1.195289; American Dollar to Japanese Yen = 0.008986; American Dollar to Mexican Peso = 0.056497.

Six companies bought 14 million barrels of oil from the U.S. Strategic Petroleum Reserve in a sale required by law to help fund medical research and the federal government, said the Department of Energy on Thursday. BP Oil Supply, Exxon Mobil Corp, Phillips 66, Shell Trading, Valero Marketing and Supply Company, and Macquarie Commodities Trading bought oil from the reserve, which is held in salt caverns on the Texas and Louisiana coasts. The companies bought the oil at a range from $46.98 to $47.91 a barrel, slightly below the current futures price of about $49.70 per barrel, depending on which location the crude came from and whether it was sent by pipeline or directly to vessels, which could export the petroleum.

Futures were steady in New York after rising 3.8 percent in the previous three sessions. Global demand will climb this year by the most since 2015, the IEA said Wednesday. OPEC on Tuesday raised estimates for the amount of crude it will need to supply in 2018 on stronger consumption from Europe and China. U.S. oil output gained last week as operations returned after Hurricane Harvey. The IEA report “was taken as confirmation of the prevalent supply-tightening narrative, that that oil surplus is slowly disappearing,” said Norbert Ruecker, head of commodity research at Julius Baer Group Ltd. Still, crude is “trading at the upper end of a fundamentally justified price range” and the “upcoming seasonal demand soft patch is set to create near-term headwinds.” Click Read More below for more of the story.

Futures gained 1 percent in New York after rising 1.6 percent the previous two sessions. The IEA boosted its forecast on stronger-than-expected consumption in Europe and the U.S., and said that inventories of refined products are subsiding to their five-year average. A six-month extension to supply curbs from the end of March is one of the options being considered by OPEC and its allies, according to a person familiar with the matter. Oil in New York has averaged about $49 a barrel this year as efforts to drain a global glut by the Organization of Petroleum Exporting Countries and partners including Russia are stifled by rising shale output. U.S. crude inventories expanded by 6.18 million barrels last week, according to industry data, as oil processors gradually restarted following Harvey. Click Read More below for more of the story.

Due to the unprecedented impact and devastation in the wake of Hurricane Harvey, several of Sun Chemical’s feedstock suppliers have announced a force majeure and many other raw materials suppliers are reviewing allocations. While the volatility of the supplier markets is unknown at this point, the inks and pigments markets will be affected. Sun Chemical is committed to working closely with its suppliers to assess global ramifications, develop needed contingency plans, and to notify customers of potential delays or issues. Click Read More below for more of the story.

Futures slipped 0.5 percent in New York after rising 1.2 percent Monday. U.S. refiners closed by Hurricane Harvey more than two weeks ago continue to restart, including the nation’s largest, operated by Motiva Enterprises LLC. The 12 OPEC nations engaged in production cuts reduced their output by 109,000 barrels a day last month, according to a person familiar with the matter. The hurricanes have rattled energy markets, with Irma shutting Florida fuel stations and ports and Harvey earlier halting about one-quarter of the nation’s refining capacity. Goldman Sachs Group Inc. forecasts the two storms will initially hurt crude demand by about 600,000 barrels a day, though the recovery will likely raise consumption and offset that loss. Click Read More below for additional detail.

Crude oil prices gained in Asia on Monday as the impact of Hurricane Irma was not as severe as expected so far, but still packed a wallop for Florida even as its intensity was downgraded and as investors eyed China crude buying trends in the wake of a strongly stronger yuan. Hurricane Irma knocked out power to more than 2.4 million homes and businesses in Florida on Sunday, threatening millions more as it crept up the state's west coast, and full restoration of service will take weeks, local electric utilities said. But after Hurricane Irma hit Florida on Sunday morning as a dangerous Category 4 storm, the second highest level on the five-step Saffir-Simpson scale, it weakened to a Category 2 with maximum sustained winds of 110 miles per hour (177 kph). The yuan gained to its highest level since May 2016 on Monday, a boon for commodity imports priced in dolalrs that are imported into China such as crude oil. Click Read More below for more of the story.

Last month, U.S. Senator Susan Collins announced a $7.89 Million grant for a project to improve rail infrastructure in Northeastern Maine. NBM Rail Services has been awarded the contract to repair and upgrade 22 rail bridges on the Madawaska Subdivision of the Maine Northern Railway. Fourteen bridges will require minor repairs, three bridges require superstructure replacements, and one bridge will be replaced completely. The funding, through the FASTLANE grant program, will help create jobs, improve competitiveness and provide an economic boost for the State of Maine. Following project completion, the 151-mile section will be capable of carrying 286,000 pounds of rail car weight. “This major rail link is used daily by manufacturers and customers across our state, and these improvements will significantly increase capacity and efficiency throughout the corridor,” said Senator Collins, Chairman of the Senate Appropriations Subcommittee. Click Read More below for additional detail.

The editors of Graphic Design USA invite you to join the thousands of creative professionals who have been recognized by this national design competition for five decades. The competition is open to every­one in the community: advertising agencies, design firms, corporate, institutional and publishing inhouse departments, and more. It honors outstanding new work of all kinds: print, packaging, p-o-p, internet, interactive, video and more. Winners receive an embossed Certificate of Excellence for each piece selected and are eligible for reproduction in the 54th Anniversary GDUSA Awards Annual in print, online, digital and mobile – seen by over 100,000 colleagues and clients each year. The featured category: Creative Use of Stock sponsored by Adobe Stock.

Oil prices steadied on Friday after almost a week of sharp rises as Hurricane Irma, one of the most powerful storms in a century, drove towards Florida after tearing through the Caribbean. Irma is the second major hurricane to approach the United States in two weeks and has already killed 14, flattening whole islands. Its predecessor, Harvey, shut a quarter of U.S. refineries and 8 percent of U.S. oil production. “Hurricanes can have a lasting effect on refinery and industry demand,” said Eugen Weinberg, head of commodities research at Commerzbank in Frankfurt. “The impact of the forces of nature on U.S. oil production should not be overestimated – nor should their impact on demand be underestimated.”

National Average Price for Regular Unleaded Current: $2.674 Month Ago: $2.351 Year Ago: $2.185 National Average Price for Diesel Current: $2.701 Month Ago: $2.516 Year Ago: $2.362

American Dollar to Canadian Dollar = 0.825317 American Dollar to Chinese Yuan = 0.154608 American Dollar to Euro = 1.204375 American Dollar to Japanese Yen = 0.009281 American Dollar to Mexican Peso = 0.056480

Wolff Olins has appointed Sairah Ashman as CEO. The first female head of the creative consultancy, she has been with Wolff Olins for 23 years, seven of them as Global COO. Former CEO Ije Nwokorie says, “Sairah is one driven leader; privately and professionally committed to making a positive impact in the world. She’s an important voice for equality in our industry and I am excited by our continuing partnership.”

Harmony Extracts is a cannabis concentrate company that uses state-of-the-art extraction technologies to transform marijuana plants into potent concentrates. A new enterprise based in Denver CO, Harmony commissioned Pentagram to design its brand identity and packaging for the initial line of products. Rejecting the head-shop look of the bygone days, the Pentagram team decided to align the brand with the growing number of modern, clean, high-end dispensaries “that seemed to be on a mission to become the Starbucks of the cannabis retail world.”

Brent oil prices firmed on Thursday, hovering near 3-1/2-month highs as U.S. refiners restarting after Tropical Storm Harvey increased their crude processing and the U.S. dollar declined. Brent crude futures LCOc1 were up 28 cents at $54.48 a barrel by 1143 GMT, close to their highest since May 25. U.S. West Texas Intermediate (WTI) crude futures CLc1 eased by 11 cents to $49.05 a barrel, near a four-week high.

Adam DelMarcelle, a student in the MFA in Graphic Design program at VCFA continues to work on a compelling project in his hometown of Lebanon PA. Called “What Heroin Sounds Like,” the campaign has recently expanded to include guerrilla projections put up on buildings around his hometown.

We teamed up with the brilliant minds at LogoLounge to provide our readers with an extensive look into this year’s logo design trends and insights in the latest issue of HOW magazine. LogoLounge’s Bill Gardner and an esteemed panel of judges pored through 40,000 logos collectively to select the cream of the crop in logo design from around the world. This year’s judges were:

Brent LCOc1 had gained 28 cents to $53.66 a barrel by 0952 GMT. U.S. West Texas Intermediate (WTI) crude futures Clc1 were up 15 cents at $48.81. “Hurricane Harvey was bearish for crude and speculators went massively short WTI but now there is a reversal to positions pre-Harvey. Strong margins are helping underpin crude ... gasoil is at its highest point this year,” Olivier Jakob of Petromatrix consultancy said. Many refineries, pipelines and ports that were knocked out by Harvey 10 days ago are restarting. As of Tuesday, about 3.8 million barrels per day (bpd) of refining capacity, or 20 percent of the U.S. total, was shut. This compares with 4.2 million bpd at the height of the storm.

The Prince Estate and the Pantone Color Institute™ have created a standardized custom color to represent and honor international icon, Prince. The (naturally) purple hue, represented by his “Love Symbol #2” was inspired by his custom-made Yamaha purple piano, which was originally scheduled to go on tour with the performer before his untimely passing at the age of 57. The color pays tribute to Prince’s mark on music, art, fashion and culture.

I can count on one hand the number of designers whose work I’ve fallen in love with based purely on their business card: Chad Michael is at the top of that list. Its devilishly intricate foil details and grinning skull-like grail are more in keeping with some mythical talisman than a simple calling card. It is precisely this mix of thoughtful sophistication and otherworldly iconography that makes Chad’s work seem both fresh and new, as well as gloriously historic. His bold choice of typography only enhances this feeling.

The first ever coupon is believed to have been distributed in 1888 by Coca-Cola — a ticket for a “free cup of Coke” to help promote the drink. It's estimated that by 1913, one in nine Americans had redeemed at least one of the 8.5 million tickets distributed through mail, magazine inserts, sales representatives and company employees. Historically, coupons were viewed simply as a mass promotion vehicle to drive more sales of a particular product. In the digital age, customer information provides retailers the opportunity to join forces with suppliers to personalize and optimize coupon distribution in a way that serves a multitude of objectives. For example, personalized coupons can support introduction to categories and products, retention of customer revenue, cross-sell strategies, improvement of brand and private-label recognition, and more.

U.S. oil prices rose on Tuesday and gasoline fell as the gradual restart of refineries in the Gulf of Mexico that were shut by Hurricane Harvey raised demand for crude and eased fears of a fuel supply crunch. Gasoline futures RBc1 dropped 4 percent from their last close, to $1.68 per gallon, down from $2.17 on Aug. 31 and back to levels last seen before Harvey hit the U.S. Gulf Coast and its large refining industry. U.S. West Texas Intermediate crude futures Clc1 rose more than 1 percent to $47.84 per barrel by 1008 GMT, up 55 cents from their last settlement. “Gasoline fell as refineries in Texas began to reopen,” said William O‘Loughlin, investment analyst at Rivkin Securities. Texas was edging towards recovery from the devastation of Harvey as shipping channels, oil pipelines and refineries restarted some operations.

National Average Price for Regular – Current: $2.519; Month Ago: $2.320; Year Ago: $2.223. National Average Price for Diesel – Current: $2.591; Month Ago: $2.477; Year Ago: $2.368.

American Dollar to Canadian Dollar = 0.803578 American Dollar to Chinese Yuan = 0.152452; American Dollar to Euro = 1.192098; American Dollar to Japanese Yen = 0.009080; American Dollar to Mexican Peso = 0.056014.

Motor fuel prices slipped 1.2 percent on Friday, the first decline in front-month futures in almost two weeks, after a 25 percent gain in August. Crude in New York extended declines following the worst month since March. About 4.4 million barrels a day of U.S. refining capacity remains shuttered. The government plans to supply 1 million barrels of crude from the Strategic Petroleum Reserve to a Gulf Coast plant, the first emergency release in five years. Hurricane Harvey cut U.S. refining capacity to the lowest level since 2008 after its initial strike on the Texas coast late last week. It returned as a storm to hit Louisiana on Wednesday, bringing torrential rains that shut the biggest U.S. refinery, owned by Motiva Enterprises LLC in Port Arthur, Texas. The lack of production forced Colonial Pipeline Co. to curb flows to a link that carries fuels to the Northeast. Valero Energy Corp. and Royal Dutch Shell Plc told wholesale customers Wednesday they don’t have enough gasoline and diesel to sell. Click Read More below for additional detail.

Gasoline hit a new a two-year high as investors assess the impact of refinery outages and restarts as Harvey moves away from the Houston area. With the storm sliding farther inland over Southwestern Louisiana, Motiva Enterprises LLC’s Port Arthur refinery, the country’s biggest, began a controlled shutdown. The disruption helped send motor fuel up 5.7 percent in New York, while oil slipped. An Energy Information Administration report showed U.S. crude stockpiles slid for a ninth week, though production -- often given more weight by traders -- continued to rise last week. Click Read More below for more of the story.

Gasoline rose to a two-year high as Tropical Storm Harvey hit the U.S. Gulf coast again after already knocking out a fifth of the nation’s refining capacity. Motiva Enterprises LLC’s Port Arthur refinery, the country’s biggest, was said to be shutting because of severe flooding. The disruption helped send motor fuel as much as 3.3 percent higher in New York, while the resulting reduction in demand from plants hit by the storm kept crude near a five-week low. After drenching Texas, Harvey regained strength over the waters of the Gulf of Mexico and crashed ashore again Wednesday in southwest Louisiana, according to the National Hurricane Center. “The market focus seems to be on the quantity of refinery capacity shut-ins and potential to hit oil demand,” said Giovanni Staunovo, an analyst at UBS Group AG in Zurich. Click Read More below for additional detail.

Motor fuel prices fell 0.7 percent in New York, while crude futures slipped from the lowest closing level in five weeks. Valero Energy Corp. and Citgo Petroleum Corp. were said to be preparing to restart their refineries in Corpus Christi after Harvey moved through over the weekend. The storm, which made landfall on Friday, is poised to regain strength before crashing ashore again near the Texas-Louisiana border on Wednesday. “It is a question of the market reassessing the risk to refineries while also concluding we are past the peak season in terms of demand,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen. “We are seasonally heading towards a lower demand period which means that any signs of things beginning to normalize could have quite a negative impact on prices.” Click Read More below for additional detail.

Gasoline surged to the highest in two years and oil declined as flooding from Tropical Storm Harvey inundated refining centers along the Texas coast, shutting more than 10 percent of U.S. fuel-making capacity. Motor fuel prices rose as much as 6.8 percent, while New York oil futures slipped 0.9 percent. Harvey, the strongest storm to hit the U.S. since 2004, made landfall as a hurricane Friday, flooding cities and shutting plants able to process some 2.26 million barrels of oil a day. Pipelines were closed, potentially stranding crude in West Texas and interrupting gasoline supply. Click Read More below for more of the story.

National Average Price for Regular – Current: $2.352; Month Ago: $2.281; Year Ago: $2.198. National Average Price for Diesel – Current: $2.528; Month Ago: $2.454; Year Ago: $2.348.

American Dollar to Canadian Dollar = 0.799513; American Dollar to Chinese Yuan = 0.150202; American Dollar to Euro = 1.181985; American Dollar to Japanese Yen = 0.009118; American Dollar to Mexican Peso = 0.056621.

Front-month crude futures rose 0.7 percent in New York, paring Thursday’s 2 percent decline. Gasoline gained as much as 4.6 percent. While some oil and gas production has shut in the Gulf, the storm is bearing down on an area in the U.S. state of Texas that is home to much of the nation’s refining capacity. If Harvey, currently a Category 2, makes the forecast landfall as a Category 3, it will be the strongest storm to hit since Wilma in 2005. U.S. gasoline prices for September rose to $1.7120 a gallon, the highest intraday price for a front-month contract since April. Ultra-low-sulfur diesel climbed as much as 2 percent to $1.6530 a gallon. Click Read More below for more of the story.

“The most recent EIA stock update gave something for both bulls and bears to cheer about,” said Stephen Brennock, an analyst at PVM Oil Associates Ltd. in London. “As has become the norm, the fly in the ointment for bulls is the march higher in U.S. crude production.” U.S. gasoline inventories dropped by 1.22 million barrels to 229.9 million last week, the EIA reported Wednesday. Crude output increased by 26,000 barrels a day to 9.53 million, expanding for a second week. Click Read More below for additional detail.

Futures lost 0.3 percent in New York after rebounding Tuesday from the biggest drop in a week. Motor fuel stockpiles gained by 1.4 million barrels last week, while crude inventories fell by 3.6 million barrels, the American Petroleum Institute was said to report. Energy Information Administration data Wednesday is forecast to show both gasoline and crude stockpiles decreased. U.S. crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest U.S. oil-storage hub, dropped by 462,000 barrels last week, said the API, according to people familiar with the data. Nationwide crude inventories probably decreased by 3.48 million barrels last week, while gasoline supplies slid 1.25 million, according to analysts surveyed by Bloomberg. Click Read More below for additional detail.

Futures in New York were little changed after slumping 2.4 percent Monday. Inventories probably dropped by about 3.5 million barrels last week, according to a Bloomberg survey before an Energy Information Administration report on Wednesday. Libya has stopped loadings from its biggest oil field, while Venezuela’s exports also declined in the first half of August. “Right now, we are seeing a draw on the U.S. inventory stocks,” said Michael Poulsen, an analyst at Global Risk Management Ltd. As “the driving season is coming to an end, the question is if the latest draws in U.S. inventories will continue.” U.S. crude stockpiles have declined by almost 43 million barrels since the end of June, according to the Energy Information Administration. While inventories have eased, oil production has increased to the highest since July 2015. Output from major shale fields is also forecast to climb to a record next month. Click Read More below for additional detail.

Futures were little changed in New York after rising 3.7 percent the previous two sessions. Libya declared force majeure, a legal clause that allows the suspension of deliveries, on supplies from the Sharara field after it was blocked on Sunday, National Oil Corp. Chairman Mustafa Sanalla said. Drillers targeting crude trimmed the rig count by five to 763, the second decline this month, according to data Friday from Baker Hughes Inc. “The fragility of Libya’s production increase” was highlighted by the problem at Sharara, said Giovanni Staunovo, an analyst at UBS Group AG in Zurich. “Considering that the political situation and security issues remain unresolved, production gains can be quickly reversed.” Click Read More below for more of the story.

National Average Price for Regular – Current: $2.341; Month Ago: $2.258; Year Ago: $2.135. National Average Price for Diesel – Current: $2.528; Month Ago: $2.443; Year Ago: $2.301.

American Dollar to Canadian Dollar = 0.790589; American Dollar to Chinese Yuan = 0.149829; American Dollar to Euro = 1.174149; American Dollar to Japanese Yen = 0.009169; American Dollar to Mexican Peso = 0.055936.

Futures were little changed in New York, down 3.2 percent for the week. U.S. production had the biggest weekly advance since June, according to Energy Information Administration data on Wednesday, offsetting the largest decline in stockpiles in almost a year. Oil processing in China fell in July, the biggest decline for that particular month in three years, figures from the National Bureau of Statistics showed Monday. “Prices were unimpressed by the reported significant drop in oil inventories,” said Norbert Ruecker, head of commodities research at Julius Baer Group Ltd. in Zurich. “Instead, the market’s focus was possibly on robust U.S. output growth or the fact that the driving season and seasonal demand strength are set to ebb over the coming weeks.” U.S. crude output rose by 79,000 barrels a day to 9.5 million a day last week, the highest since July 2015, the Energy Information Administration reported Wednesday. Stockpiles declined for a seventh week to 466.5 million barrels. Click Read More below for additional detail.

Futures were 0.4 percent lower in New York after falling 4.2 percent the previous three sessions. U.S. production had its biggest weekly gain since the end of June, climbing to the highest level since July 2015, according to Energy Information Administration data Wednesday. The increase offset the price impact of an 8.95-million-barrel decline in crude stockpiles, the biggest drop since September. U.S. crude output rose by 79,000 barrels a day last week to 9.5 million a day, the EIA reported. Crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest U.S. oil-storage hub, expanded a second week to 57 million barrels. Gasoline inventories climbed by 22,000 barrels to 231 million. Click Read More below for additional detail.

Futures rose 0.5 percent in New York after slipping a second session Tuesday. Inventories dropped by 9.2 million barrels last week, the American Petroleum Institute was said to report. If that is replicated in government data Wednesday, it would be the largest drop in almost a year. Output from Libya is rebounding as its biggest field boosts production and a port reopens. OPEC won’t clear the global glut any time soon since any increase in price continues to bolster rival production from U.S. shale, according to the International Energy Agency. Click Read More below for additional detail.

Futures fell 2.5 percent in New York. China’s oil refining dropped the most in three years in July, while crude output retreated from the highest this year. Libya’s biggest oil field, Sharara, cut output by more than 30 percent because of security threats, a person familiar with the matter said. Meanwhile, the dollar strengthened, eroding the lure of commodities as a store of value. "We’re seeing some strength in the dollar, and the preponderance of news seems to be favoring the bears right now," Phil Flynn, senior market analyst at Price Futures Group Inc. in Chicago, said by telephone. "If you look at the China data this morning, when it came to the China refinery runs being down in July, that’s adding to the perception of slowing demand, and it’s offsetting the concerns about Libyan oil production." Click Read More below for additional detail.

Futures fell 0.3 percent in New York after Friday’s 0.5 percent gain. Libya’s biggest oil field cut output by more than 30 percent, a person familiar with the matter said Sunday, while the head of a union said loadings at Zueitina ceased after employees demanded better working conditions. In the U.S., drillers added three crude rigs last week, according to Baker Hughes Inc. In Libya, the Sharara field’s output has dropped to 200,000 barrels a day, the person familiar said. “After months of boosting oil production, Libya currently seems to be experiencing output disruptions,” said Michael Poulsen, an analyst at Global Risk Management Ltd. Click Read More below for more of the story.

National Average Price for Regular – Current: $2.358; Month Ago: $2.260; Year Ago: $2.130. National Average Price for Diesel – Current: $2.525; Month Ago: $2.444; Year Ago: $2.295.

American Dollar to Canadian Dollar = 0.786108; American Dollar to Chinese Yuan = 0.150031; American Dollar to Euro = 1.176514; American Dollar to Japanese Yen = 0.009167; American Dollar to Mexican Peso = 0.055611.

While U.S. crude inventories dropped to the lowest since October, gasoline stockpiles last week expanded for the first time since early June, indicating that consumption boosted by the summer driving season may be waning. OPEC’s rate of compliance with production cuts slipped last month to 75 percent, the lowest since the accord started in January, the IEA said. OPEC reported Thursday its output is increasing on more supplies from Libya, which is exempt from the deal. “Concerns about the persisting supply glut resurfaced after petro-nations reported growing oil output,” said Norbert Ruecker, head of commodities research at Julius Baer Group Ltd. in Zurich. “We maintain a neutral view and see oil prices trading sideways as growing shale output and stagnant western-world oil demand undermine the Middle East’s supply deal.” Click Read More below for more of the story.

Futures advanced 0.3 percent after climbing 0.8 percent Wednesday. Output slid for the second time in three weeks, according to Energy Information Administration data, while stockpiles dropped by 6.45 million barrels, almost triple the median forecast in a Bloomberg survey. Gasoline inventories unexpectedly rose for the first time since early June. Oil has fluctuated below $50 a barrel for more than a week as investors weigh rising global supply against output cuts by members of the Organization of Petroleum Exporting Countries and its allies including Russia. While U.S. crude stockpiles have declined during a period of strong seasonal demand, they remain almost 90 million barrels above the five-year average. Click Read More below for additional detail.

Futures added 0.3 percent in New York after dropping 0.8 percent the previous two sessions. U.S. inventories slid by 7.8 million barrels last week, the American Petroleum Institute was said to report Tuesday, while a Bloomberg survey also forecast a decline. The Energy Information Administration marginally boosted its estimates for American production in 2017 and 2018. “The recovery this morning is most likely in anticipation of a sixth inventory decline in crude oil this afternoon” when the EIA releases its weekly stockpiles report, said Ole Sloth Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen. Gains will be capped by a stronger dollar, he said. Click Read More below for additional detail.

Oil in New York rose above $50 a barrel early last week, before slipping as signs of rising global supply eroded optimism that curbs by the Organization of Petroleum Exporting Countries and its partners are rebalancing the market. The failure of OPEC’s efforts amid expanding output in Libya and Nigeria and lower compliance by some nations has spurred Saudi Arabia to take more action. Prices “are profiting from Saudi Arabia’s announcement that it will be reducing its oil shipments,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt. “This announcement is remarkable to the extent that domestic demand declines in September, meaning that more crude oil will be available for export if production remains unchanged.” Click Read More below for additional detail.

Oil in New York was unable to hold its advance above $50 a barrel last week as signs of rising global supply eroded optimism that output curbs by the Organization of Petroleum Exporting Countries and its partners are rebalancing the market. Compliance with cuts was 86 percent in July, according to a Bloomberg survey. “The market has recovered strongly from its lows on signs that the market is normalizing, but further upside at this stage seems unlikely,” said Ole Sloth Hansen, head of commodity strategy at Saxo in Copenhagen. Click Read More below for additional detail.

Accenture has acquired marketing and sales consultancy Brand Learning and technology services firm Search Technologies, both for undisclosed sums. In terms of the Brand Learning acquisition, a press release states that Brand Learning's advisory team will join the management consulting and industry specialists within Accenture's Customer and Channels practice. The partnership, according to the press release, will enhance Accenture's offerings in terms of marketing and sales strategy, organizational design, industry-specific consulting, and HR and leadership capabilities – allowing the professional services company to deliver end-to-end solutions and help clients create more integrated customer experiences. It will also tap into the digital design and engagement skills of Accenture Interactive, the release reads.

Delta Airlines is using a wall in the Williamsburg section of Brooklyn NY to depict the 133 airport codes that one can fly to from New York City on Delta. The illustrations by Celyn Brazier, who worked with ad agency Wieden + Kennedy in New York to show something special about the city or town they depict.

If your design work is out there on the internet, everybody can see it—or steal it. But fear not, for the digital watermark can save you! Stamp your images with a logo, wordmark, or both using any number of apps, including some you might already have. But whether you use visible or invisible digital watermarks, you need to learn how to protect your work using them, and about the pros and cons of using them. And keep in mind that during this day and age of social media and online sharing, you might not need digital watermarks.