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Fuel Week 07 - 2024/02/12 (Puerto Rico)

· One min read
Gabriel Smadi

What to expect

Expectations are a slight increase on fuel costs for this week given tensions in the middle east and increase in barrel of oil prices during last week trading.


  • WTI last traded at $76.60 a barrel on Feb 9th, 2024

  • Middle east tensions remain high as cease fire proposal for Gaza war was rejected by Israel

  • Attacks by Houthis keep commercial trade routes on edge in Red Sea adding delays to shipping times and increasing freight rates Red Sea Trade Routes Red Sea Trade Delays

  • Short term energy outlook was published forecasting a slight drop in US oil production until February 2025 and expectations of "mid-$80/b range" for crude prices during 2024 STEO WTI Forecast

Crude Oil Benchmarks

Crude oil benchmark (CL=F) for WTI last traded at $76.60 barrel on Feb 9th, 2024.

Oil Benchmarks