Crude oil prices are pulling back while still remaining elevated. Coming off of the summer's cyclical demand highs, what should consumers be expecting for gas prices for the rest of 2023? Patrick De Haan, GasBuddy Head of Petroleum Analysis, joins Yahoo Finance Live to explain which direction gas prices are moving based on regional trends and seasonal demand heading into the fall 2023 season. "Because of that maintenance, the West Coast has been really the only region of the country that's seen prices going up," De Haan explains. "Everyone else, the refinery maintenance is being offset by seasonally weak gasoline demand." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Oil prices continue to rise as global demand increases while production from OPEC+ decreases, with many bets placed that oil will reach $100 per barrel. In addition, bitcoin (BTC-USD) reached just over $28k, with some experts wondering if it's headed towards a rally. Yahoo Finance Markets Reporter Ines Ferre joins the Live show to break down China's oil demands and Congress' letter to the SEC to approve a spot bitcoin ETF. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
A strong U.S. dollar, profit-taking, inflationary concerns that could dent demand and forecasts that suggest increasing supply all weighed on oil prices today.