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Falling Gasoline Hurts Exxon Plan for U.S. Crude Exports

Exxon Mobil Corp. (XOM)â??s push to export U.S. oil overseas is facing a new hurdle: falling gasoline prices.

Falling Gasoline Hurts Exxon Plan for U.S. Crude Exports (Bloomberg)

Exxon Mobil Corp. (XOM)â??s push to export U.S. oil overseas is facing a new hurdle: falling gasoline prices. A surge of new oil from Texas to the Great Plains has flowed to refineries, driving down prices at the pump 10 percent since March, while global oil prices have hovered at about $107 a barrel. That disparity shows that the influence of the world crude market on U.S. gasoline prices is waning. U.S. supplies are having a greater impact because theyâ??re making up a bigger part of the gasoline market, supplying about 53 percent today, compared with 34 percent less than three years ago.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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archive

Falling Gasoline Hurts Exxon Plan for U.S. Crude Exports

Falling Gasoline Hurts Exxon Plan for U.S. Crude Exports (Bloomberg)

Exxon Mobil Corp. (XOM)’s push to export U.S. oil overseas is facing a new hurdle: falling gasoline prices. A surge of new oil from Texas to the Great Plains has flowed to refineries, driving down prices at the pump 10 percent since March, while global oil prices have hovered at about $107 a barrel. That disparity shows that the influence of the world crude market on U.S. gasoline prices is waning. U.S. supplies are having a greater impact because they’re making up a bigger part of the gasoline market, supplying about 53 percent today, compared with 34 percent less than three years ago.

Newsletter Signup.

Sign up to the Human Events newsletter

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YouTube Won’t Let You Watch Lauren Southern’s ‘Borderless’

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Global Elites Started The Russia Nonsense.

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