U.S. Gas Prices Rise, But Not Because of Global Factors
Global energy markets are jostling between the return of Libyan crude oil and lingering tensions over Ukraine. It’s domestic supply and demand issues, however, that are weighing on U.S. gasoline prices, AAA said Monday.
Prices waxed and then waned amid dueling overseas developments. Last week, Russian President Vladimir Putin warned European energy security was at risk because of Kiev’s debt obligations. The state-run oil firm in Libya, however, said the port of Zawiya and associated oil infrastructure were open and operating normally after protesters there ended their blockade.
West Texas Intermediate traded Monday morning at $103.74, up 0.34 cents from the previous session, while Brent crude, the global benchmark, traded down 0.13 cents to $107.33.