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Crude Oil Prices Trend Downward
Iowa Ag Connection - 08/09/2018

Crude oil prices fell this week with the West Texas Intermediate down $2.16 per barrel, currently at $66.58. Brent crude fell $2.37, currently priced at $71.88 per barrel.

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $2.16 per barrel over last week, and is currently priced at $66.58.

Brent crude oil fell $2.37 and is currently priced at $71.88.

One year ago WTI crude sold for $49.17 and Brent crude was at $52.18.

As of Tuesday, the price of regular unleaded gasoline averaged $2.73 across Iowa according to AAA. This is the same price as last week and $.42 higher than one year ago. The national average on Tuesday was $2.87, up $0.01 from last week's price.

Retail diesel fuel prices in Iowa were $.01 lower than last week's price with a statewide average of $3.07. One year ago diesel prices averaged $2.49 in Iowa. The current Iowa diesel price is $.08 less than the national average of $3.15.

Wholesale ethanol prices were down $.07 from last week's price, currently at $1.39.

The current Des Moines Terminal/Rack Prices are $2.06 for U87-E10, $2.27 for Unleaded 87 (clear), ULSD#2 is at $2.28, ULSD#1 is at $2.45, and E-70 is priced at $1.71 per gallon.

Natural Gas prices rose $.17 at the Henry Hub reporting site and ended the week at $2.93/MMbtu.

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