American Dollar to Canadian Dollar = 0.770086;
American Dollar to Chinese Yuan = 0.147079;
American Dollar to Euro = 1.141497;
American Dollar to Japanese Yen = 0.008792;
American Dollar to Mexican Peso = 0.054932.
http://www.x-rates.com/table/?from=USD&amount=1.00
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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.
National Average Price for Regular Unleaded Current: $3.122; Month Ago: $3.204; Year Ago: $3.462. National Average Price for Diesel Current: $3.566; Month Ago: $3.571; Year Ago: $4.451.
Oil fell in New York after U.S. President Donald Trump criticized OPEC and said crude prices are “artificially Very High.” The comments came as the Organization of Petroleum Exporting countries and allies including Russia showed willingness to further tighten oil markets and boost prices. Oil has rallied in recent weeks as output cuts from OPEC and its allies were compounded by heightened geopolitical risks, including the possibility of renewed U.S. sanctions on Iran. Meeting in Jeddah, a committee of OPEC and other oil producers found high levels of compliance with the production curbs. Still, there’s capacity for prices to rise beyond this week’s three-year high, according to Saudi Energy Minister Khalid Al-Falih, who said cooperation between producers would continue into 2019. Click Read More below for additional information.