Energies Media
  • Magazine
    • Digital Magazine
    • Digital Magazine Archive
  • Features
  • Upstream
  • Midstream
  • Downstream
  • Renewable
    • Solar
    • Wind
    • Hydrogen
    • Nuclear
  • People
  • Events
  • Advertise
  • Contact
No Result
View All Result
Energies Media
No Result
View All Result

Petroleum Prices Stay Steady

by Alex Mills
May 9, 2024
in Alex Mills, Contributors, News, Oil and Gas News
Close-Up Photo of a Gasoline Pump

Photo by Ekaterina Belinskaya on Pexels

Tungsten mega deposit

A Critical Mineral at a Critical Moment: The Importance of Restoring Domestic Tungsten Production in the U.S.

September 2, 2025
A Revolutionary Way to Understand Energy Customers

A Revolutionary Way to Understand Energy Customers

September 1, 2025

The prices for crude oil, natural gas, and other petroleum products were steady during the week of May 1-8.

The U.S. crude oil price for West Texas Intermediate closed on the New York Mercantile Exchange at $79 per barrel on May 8, which is a 9% increase from a year ago.

Retail gasoline prices across the U.S.  averaged $3.643, which is down $0.01 for the week but up $0.11 year over year, according to the Energy Information Administration (EIA).

InventU

Other petroleum products, such as diesel and home heating oil, remained fairly constant. Diesel averaged $3.894 per gallon on May 6, down $0.053 from the previous week and down $0.028 from the same period in 2023, according to the EIA.

Crude oil inventories declined 1.4 million barrels last week to 459.5 million barrels, and gasoline inventories rose 0.9 million barrels to 228 million barrels.

International oil traders are concerned that the conflicts in Gaza and Ukraine might have an impact on crude oil supplies.

Natural gas prices at the wellhead have been around $2 per million British thermal units (mmBtu) for most of 2024 on trading on NYMEX for front-month delivery. However, natural gas closed on May 8 at $2.195 per mmBtu, which is the highest since Jan. 29.

U.S. spot natural gas prices are expected to turn negative in the Permian Basin as trading closed at $0.25 at the Waha hub in west Texas.

Energy traders have been saying for weeks that they expected gas prices at the Waha hub to turn negative when U.S. energy company Kinder Morgan started conducting seasonal maintenance on pipelines that move gas from the Permian shale in West Texas to the Gulf Coast.

Kinder Morgan told customers it planned to reduce flows on its Permian Highway Pipeline from May 7-12 and its Gulf Coast Express pipe from May 14-21.

Alex Mills is the former President of the Texas Alliance of Energy Producers.

Author Profile
Alex Mills
Contributor

Alex Mills is the former President of the Texas Alliance of Energy Producers. The Alliance is the largest state oil and gas associations in the nation with more than 3,000 members in 305 cities and 28 states.

 

Author Articles
  • Alex Mills
    https://energiesmedia.com/author/alex-mills/
    I voted #USelections2020
    November 21, 2024
    Trump’s Nominees Bring Experience to Energy Issues
  • Alex Mills
    https://energiesmedia.com/author/alex-mills/
    Energy Prices Will Be About the Same This Winter
    October 16, 2024
    Energy Prices Will Be About the Same This Winter
  • Alex Mills
    https://energiesmedia.com/author/alex-mills/
    Fed building facade against stairs in city
    September 26, 2024
    Oil Industry Activity Down as Uncertainty Increases
  • Alex Mills
    https://energiesmedia.com/author/alex-mills/
    White and Blue Line Paper
    September 19, 2024
    EIA Expects Oil and Natural Gas Prices to Rise
  • Alex Mills
    https://energiesmedia.com/author/alex-mills/
    gas tanker, ship, nature
    September 12, 2024
    Natural Gas Sets Records for Production, Consumption, Exports
  • Alex Mills
    https://energiesmedia.com/author/alex-mills/
    Federal Price Controls Didn’t Work Very Well 50 Years Ago
    August 20, 2024
    Federal Price Controls Didn’t Work Very Well 50 Years Ago
InventU

In This Issue

Energies Media Summer 2025

ENERGIES Media (Summer 2025)


The Hidden Value in Waste Oil: A Sustainable Solution for the Future


Letter from the Managing Editor (Summer 2025)


ENERGIES Cartoon (Summer 2025)


Energies Media Interactive Crossword Puzzle – Summer 2025


Maximizing Clean Energy Tax Credits Under the Inflation Reduction Act


NeverNude Coveralls: A Practical Solution for Everyday Dignity


Moving Energy Across Space and Time


Meeting Emergency Preparedness and Response Criteria


Bringing Safety Forward in Offshore Operations


Dewey Follett Bartlett, Jr.: Tulsa’s Champion of Independents


Why Energy Companies Need a CX Revolution


How to Deploy Next-Gen Energy Savers Without Disrupting Operations


U.S. Oil Refineries Face Critical Capacity Test Amid Rising Demand

InventU
ADIPEC
  • Terms
  • Privacy

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • 3 Ways Technology is Going to Shape the Oil and Gas Industry
  • About Us
  • Advanced Technologies in Renewable Energy
  • Advertise
  • Cartoons
  • Case Studies in the Digital Transformation of Renewable Energy
  • Contact
  • Contributors
  • Digital Transformation Framework for Oil and Gas Operations
  • Digitalization and Smart Technologies in Oil and Gas
  • Digitalization and Smart Technologies in Renewable Energy Operations
  • Energies Digital Magazine
  • Energies Media
  • Energies Media Digital Magazine
  • Energies Media Magazine
  • Energies Media Magazine Archive
  • Energy Industry Events
  • Energy Markets Dashboard
  • Future Trends in Renewable Energy Technology
  • How Real-life Data Guides the Agility of Oil and Gas Companies
  • Navigating Careers in Oil and Gas
  • Navigating Careers in Renewable Energy
  • Newsletter
  • Oil & Gas Prices
  • Oilman Digital Magazine
  • Oilwoman Digital Magazine
  • Organizer Dashboard
    • Event Organizers
    • Submit Organizer Form
  • Press Releases
  • Prices & Marketcap
  • Privacy Policy
  • Puzzles
  • Quizes
  • Subscribe
  • Subscription Account
    • Access Restricted
    • Log In
    • Subscription Billing
    • Subscription Cancel
    • Subscription Checkout
    • Subscription Confirmation
    • Subscription Invoice
    • Subscription Levels
    • Your Profile
  • Team
  • Terms of Service
  • US Energy Media Kit
  • Venue Dashboard
    • Event Venues
    • Submit Venue Form
  • Webinars
  • Your Complete Guide to Essential Oil & Gas Industry Software

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.