AAA Daily Fuel Gauge Report for Friday, 6/08/18

American Dollar to Canadian Dollar = 0.734347; American Dollar to Chinese Yuan = 0.143749; American Dollar to Euro = 1.056270; American Dollar to Japanese Yen = 0.007373; American Dollar to Mexican Peso = 0.050635.

American Dollar to Canadian Dollar = 0.801619; American Dollar to Chinese Yuan = 0.156162; American Dollar to Euro = 1.153148; American Dollar to Japanese Yen = 0.008782; American Dollar to Mexican Peso = 0.048496.

India’s imports of African crude oil in October plunged to their lowest in over four years, with the world’s No.3 oil consumer increasingly turning to cheaper supplies from the United States and heavier Middle Eastern grades, ship tracking data showed. U.S. crude production has soared more than 14 percent since mid-2016 to 9.65 million barrels per day (bpd), altering trade routes as its relatively cheap and light grades become a viable import option for Asian refiners. “Earlier in Asia, West African oil was competing with Middle East grades, but now it has a new competitor: the U.S.,” said Ehsan Ul-Haq, director of crude oil and refined products at consultancy Resource Economist. Click Read More below for additional information.