The nation’s top 10 largest weekly changes: Michigan (+9 cents), Indiana (+6 cents), Ohio (+6 cents), Illinois (+5 cents), Kentucky (+4 cents), California (+4 cents), Oklahoma (−4 cents), South Carolina (−3 cents), Texas (−3 cents) and Nebraska (−3 cents).
The nation’s top 10 least expensive markets: Louisiana ($2.70), Mississippi ($2.70), Texas ($2.70), Oklahoma ($2.71), Missouri ($2.71), Arkansas ($2.75), Kansas ($2.81), Alabama ($2.81), South Carolina ($2.82) and Minnesota ($2.83).
Oil Market Dynamics
At the close of Friday’s formal trading session, WTI decreased by 53 cents to settle at $66.32. Although prices ended the day down due to market liquidation at the end of the month, crude prices gained on the week after the Energy Information Administration’s weekly report showed that total domestic crude inventories decreased by 1.7 million bbl to 484.3 million bbl. However, last week’s price gains were limited by market concerns that increasing coronavirus infections around the world could reduce crude consumption this year. For this week, crude prices could climb further if EIA’s next report shows another decline in crude stocks.