Oil price market news review today April 28, 2013:
Crude oil prices tracked lower once again during the last full trading session of the week. Oil price trend-lines have been pressured due, in part, to weaker the expected economic trends recently. The U.S. is a primary consumer of crude oil and the world took note of the mixed market news last week. The last week of market trends in the U.S. prompted caution. The recent Growth Domestic Product report posted growth at an annual rate of 2.5 percent for the U.S.
Although the report showed growth, the rate was below analysts’ expectations. The feeling left over after the report was one of caution regarding potentials for the second quarter. A continued slowdown in the U.S. increased demand worries and thus decreased projections for crude oil consumption. In addition, ongoing volatility in the Middle East keeps oil price trends destabilized . Crude oil price finished the last full trading session in the red for the day.
Crude oil contract price close review today:
June contract oil price dropped lower last session by .68 percent to close at 93.00 per barrel.
Gas price per gallon review USA today:
Gas prices have continued to drop lower across the U.S. According to AAA fuel gauge report, the average price of a gallon of regular gasoline currently posts at 3.50. One week ago, gas prices posted at 3.51 per gallon according to AAA.