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Crude Oil Prices Fall
Iowa Ag Connection - 07/28/2016

The price of crude oil dropped $2.93 this week, currently priced at $42.12. Brent crude oil also fell, now $3.68 less than last week, currently priced at $43.62.

The price of global crude oil fell this week on the West Texas Intermediate (WTI) by $2.93 per barrel over last week, and is currently priced at $42.12.

Brent crude oil fell $3.68, and is currently priced at $43.62.

One year ago WTI crude sold for $47.39 and Brent crude was at $54.07.

As of Tuesday, the price of regular unleaded gasoline averaged $2.14 across Iowa according to AAA. This is $.02 lower than one week ago and $.60 lower than one year ago. The national average on Tuesday was $2.15, $.04 lower than last week.

Retail diesel fuel prices in Iowa were down $.02 with a statewide average of $2.32. One year ago diesel prices averaged $2.60 in Iowa. The current Iowa diesel average is a penny lower than the national average of $2.33.

Wholesale ethanol prices were $.02 lower this week, closing at $1.44.

The current Des Moines Terminal/Rack Prices are $1.36 for U87-E10, $1.59 for Unleaded 87 (clear), ULSD#2 is at $1.41, ULSD#1 is at $1.57, and E-70 is priced at $1.59 per gallon.

Natural Gas prices were $.09 lower at the Henry Hub reporting site and ended the week at $2.72/MMbtu.


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