Nancy Vu is an energy and environment reporter for the Washington Examiner. Before coming to the Washington Examiner, Nancy was a Congress reporter for Politico. She started at the company as an editorial intern to the sustainability team and helped to cover a number of environmental issues, such as the clean energy transition, corporate climate initiatives, and the Biden administration’s green promises.
Oil prices dropped over $5 on Wednesday after reaching highs of more than $95 a barrel last week and analysts going as far as to project prices reaching $100 by the end of the year.
The decline in fuel demand could be attributed to several factors, including a drop-off from peak driving season and storms that rained over the Northeast and prevented drivers from hitting the roads. “In fact, despite the runup in oil, retail gas prices have held remarkably steady in the past two months after jumping in July and are now down again on a year-over-year basis,” Guatieri said in a BMO report released on Wednesday.
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