October 1,2018-
Update: On 10/4 Chevron posted a price of $80.57 for Midway Sunset. Valley crude oil is expected to reach $80 barrel this week as WTI climbed over the $75 level Monday. WTI is up over 44% in the past year as the US pushes to limit oil exports from Iran while it pumps at record level in the US.Rig count is up by 113 compared to last year across the US.
U.S. crude prices surged on Monday to a four-year high as West Texas Intermediate crude oil was up $2.05, or 2.8 percent, at $7 Brent crude was up over $85.
Chevron will post the price of its Valley-pumped Midway Sunset oil Tuesday, likely to break the $80 threshold, the highest since October 2014.
Higher priced crude has pushed up the price of gasoline about 15 cents last month. In California a the price is some 64 cents higher than a year ago.
EIA says that U.S. #crudeoil exports increased by nearly 80%, from the first half of 2017 to the first half of 2018 and set a new monthly record of 2.2 million barrels per day in June. Much of it went to Asia.