Key Currency Exchange Rates for Friday, 2/3/23

National Average Price for Regular Unleaded Current: $3.192; Month Ago: $3.174; Year Ago: $2.191. National Average Price for Diesel Current: $3.337; Month Ago: $3.285; Year Ago: $2.392.

American Dollar to Canadian Dollar = 0.751280; American Dollar to Chinese Yuan = 0.147264; American Dollar to Euro = 1.171750; American Dollar to Japanese Yen = 0.009501; American Dollar to Mexican Peso = 0.045645.

Short term, oil-pricing volatility will continue. Traders will likely consider any forward interruption – perceived or actual – in Iranian crude export flow as upward pressure on global prices. If this happens and JCPOA is not immediately closed, (i.e., should those second and third possible scenarios I mentioned play out), there will be a pullback. Overall, other factors have been contributing to an increasing floor for the oil-pricing band, supported by continuing OPEC production problems in Venezuela, Nigeria, and Libya. Click Read More below for additional information.