Key Currency Exchange Rates for Friday, 3/19/21

National Average Price for Regular – Current: $2.298; Month Ago: $2.247; Year Ago: $2.142. National Average Price for Diesel – Current: $2.460; Month Ago: $2.447; Year Ago: $2.329.

Futures were little changed in New York, up more than 9 percent in September. Oil this week returned to a bull market on signs the persistent crude surplus was finally starting to shrink, while Trafigura Group and Citigroup Inc. warned of the potential for a further supply squeeze in 2018. The Organization of Petroleum Exporting Countries and Russia have hailed the success of their agreement to cut production and urged their allies to stay focused on finishing the job. U.S. Gulf Coast refiners restarted after last month’s hurricanes. Click Read More below for additional detail.

As contract talks drag on, tensions are rising at West Coast ports. Following a shutdown at the Ports of Oakland and Long Beach, which combine to form the country’s largest cargo complex, over the weekend, the National Retail Federation called on the Biden Administration to intervene. (At least one terminal at the Port of Long Beach shut Monday, according to reports.) The new disruptions come as the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association have failed to reach and ratify a new labor agreement following more than a year of negotiations.