Why Smart Investors Are Choosing This $16 AI Stock

If you've missed out on NVIDIA's recent 1,600% run...Don't worry because there's one AI stock that could be a lot more lucrative. It's currently trading for only $16. And most importantly... even OpenAI founder Sam Altman admits the future of AI "depends" on this company's work.

U.S. gas prices have fallen or remained steady for 10 weeks straight. Here's why

WYATTE GRANTHAM-PHILIPS
November 28, 2023

NEW YORK (AP) -- It's not just you. Across the U.S., prices at the pump have felt milder in recent months.

Gas prices have fallen or remained steady since September 19 -- marking about a 70-day trajectory of decline, Andrew Gross, spokesperson for motor club AAA, told The Associated Press Tuesday.

As of Tuesday, the national average for gas prices stood just below $3.25 according to AAA. That's down 25 cents from a month ago and 30 cents less than this time last year. Experts point to a recent decline in oil prices and a seasonal dip in demand, as well as easing inflation.

"Every penny decline in the national average saves motorists almost $38 million," said Patrick De Haan, head of petroleum analysis at GasBuddy. "If you amplify that times 30 cents, we're talking about Americans that are spending hundreds of millions less on gasoline today than they were a year ago."

Despite the drop, the global energy market can be volatile and lower gas prices down the road aren't promised. Here's what you need to know.

WHY ARE GAS PRICES FALLING?

A few factors contribute to today's gas prices, but a big explanation behind the decline is seasonality. In other words, prices at the pump almost always soothe some at this time of year.

For starters, there's a switch to winter blend gasoline -- which is cheaper to produce than the summer blend, De Haan notes. And, despite some upticks around the holidays, shorter days make hitting the road less enticing in the colder months.

"It's dark and the weather is kind of crummy, and people just want to stay home," Gross said. "Demand is a lot less (in the) fall and winter."

On top of the seasonal cycle, inflation, while down from last year, is still high and continues to undercut Americans' spending habits -- which could also be contributing to today's lower demand, De Haan added.

Beyond demand, experts also point to declining oil costs. Prices at the pump are highly dependent on crude oil, which is the main ingredient in gasoline. West Texas Intermediate crude, the U.S. benchmark, has stayed in the high-to-mid $70s for the past three weeks -- standing at about $76 a barrel as of Tuesday afternoon, down from over $82 a month ago.

Oil is a global commodity, so events impacting production and supply such as the Russia-Ukraine war can be felt domestically. There's also been a notable uptick in U.S. production that is "helping to keep a lid on prices" today, De Haan said.

At the start of October, American oil production hit an all-time high of 13.2 million barrels per day, passing the previous record set in early 2020 by 100,000 barrels. Average production has since remained at that level, according to the government's latest data through the week of Nov. 17.

COULD GAS PRICES CHANGE COURSE AND GO UP AGAIN SOON?

While the downward trend in gas prices is expected to continue at least into the New Year, anything's possible. Some experts point to the potential of more cuts from major producing OPEC+ countries -- which boosted energy prices in the past.

Earlier this year, Saudi Arabia and Russia notably extended their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market. Some speculate that OPEC+ could announce further cuts in an upcoming meeting, which was reportedly postponed until Thursday.

Still, the meeting delay signals that there may be disagreements within OPEC+, so it's "going to be a wildcard to watch," De Haan said. If a surprise announcement does arrive, it's hard to predict the impact -- but consequences could also be brief or minimal, Gross added, especially if the market is already anticipating more cuts.

Among today's global backdrop is also the Israel-Hamas war. The breakout of violence initially slowed the fall in oil prices, but that progressively changed, Gross said -- noting the war has not expanded to large oil producing countries in the Middle East. Still, the future remains uncertain.

"Given how volatile the oil market is...I would keep an eye on what's going on overseas, not just in terms of this war, but in other economies," Gross said, adding that shifts in oil prices can be very headline-driven for news impacting major markets around the world.

WHAT STATES HAVE THE LOWEST GAS PRICES TODAY?

While gas prices nationwide are collectively falling, some states, of course, always have cheaper averages than others -- due to factors ranging from nearby refinery supply to local fuel requirements.

As of Tuesday, according to AAA, 15 states in the U.S. had gas prices below $3 -- with Texas ($2.71), Mississippi ($2.76) and Georgia ($2.79) at the lowest.

Meanwhile, the states with the highest prices at the pump were led by California ($4.88), Hawaii ($4.72) and Washington ($4.34).

Continue Reading...

Popular

Lebanon files complaint against Israel at UN labor body over deadly pager explosions, minister says

GENEVA (AP) — A Lebanese government minister said Wednesday his country was filing a complaint against Israel at the U.N.’s labor organization over the string of deadly attacks involving exploding pagers, saying workers were among those killed and injured.

Early Nvidia, AMD, and Tesla Investor Shares New AI Picks - Ad

Jeff Brown, the tech expert who recommended Nvidia, AMD, and Tesla, is now releasing new AI stock picks. He believes they could deliver even bigger gains than before.

Stock market today: Wall Street rallies on Election Day as economy remains solid

Asian shares were mostly higher on Wednesday after stocks on Wall Street rallied as Americans cast votes in a pivotal national election.

Many retailers offer 'returnless refunds.' Just don't expect them to talk much about it

It's one of the most under-publicized policies of some of the biggest U.S. retailers: sometimes they give customers full refunds and let them keep unwanted items too.

The Secret Weapon You Need for This Bull Market - Ad

There's a powerful tool that can remove all the guesswork from trading. It's built to trade the key levels for you, buying dips and selling at the right time, without you having to lift a finger. For a limited time, the creators of this incredible tool are holding a free Workshop where you can see the software in action.

Kamala Harris 'Ready' If Trump Decides To 'Falsely' Declare Victory: 'We Are Prepared To Respond'

Kamala Harris's campaign and Democratic officials are preparing to counter any premature victory declaration by Donald Trump on Election Day.

GM Recalls 107 Bolt Electric Vehicles Due To Fire Risks

General Motors is recalling 107 Bolt electric vehicles owing to fire risks, the NHTSA said on Tuesday.

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

Edmunds: These are the best lightly used hybrid cars, SUVs and trucks

What if you can’t afford to buy a new car? Consider buying a used one. A lightly used hybrid can save you thousands of dollars compared to an equivalent new one and be a trustworthy vehicle for many years to come.

Trump's Billionaire Ally Plans To Join Elon Musk's DOGE If Named Treasury Secretary, Recommends Elimination Of These Subsidies

John Paulson, a billionaire investor and a close ally of former President Donald Trump, has revealed his plans to work with Elon Musk on substantial federal spending cuts if he were to be appointed

AI Market Shock Coming November 19th? - Ad

Jeff Brown predicts an AI market shift, potentially happening by November 19th, led by Bill Gates' Stargate project. Get ahead of the curve before the next AI market shock.

Biden calls out Musk over a published report that the Tesla CEO once worked in the US illegally

NEW YORK (AP) — slammed for hypocrisy on immigration after a published report that the Tesla CEO once worked illegally in the United States. The South Africa-born Musk denies the allegation.

Working Well: Seeking the elusive work-life balance, one step at a time

NEW YORK (AP) — The moment I knew I had to get serious about came without warning. I was writing a high-profile news story during the pandemic when my heart began pounding like a jackhammer.

Elon: Tesla Is a Robotics Company Now - Ad

Elon Musk's new plan for Tesla's future has nothing to do with electric cars... TechRadar reports it "will blow your mind..." & McKinsey says it "will shape the coming decade." We recently got our hands on a video clip detailing this breakthrough.

Jim Cramer Warns Apple Stock Should Have 'Never Been Up That Much' After Q3 Earnings Even As This Analyst Defends iPhone 16 Launch

Jim Cramer argued that Apple's stock was overhyped prior to its forecast cut, suggesting the market is now more "reasonable," while Wedbush analyst Dan Ives praised Apple's strong iPhone 16 launch.

Elon Musk Want His 11 Kids, Their Mothers To Live In Secret Compound He Bought, New Report Says

Elon Musk could be building a new family compound made up of several mansions to house his children and their mothers, according to a new report.

Single Stock Blueprint Available Now - Ad

Market Wizard Larry Benedict is one of the most successful traders you'll ever meet...But he doesn't make money the traditional way. In short: It's a way to trade just one stock...And potentially make all the money you need to fast-track your retirement -- no matter what happens in the stock market.

LA County sues Pepsi, Coca-Cola over plastic bottles

LOS ANGELES (AP) — Los Angeles County is taking on Pepsi and Coke for their role in plastic pollution.

Super Micro Computer's shares plunge after accounting firm resigns

NEW YORK (AP) — Shares of Super Micro Computer plunged more than 30% Wednesday morning, after the server maker disclosed that Ernst & Young had resigned as its public accounting firm.

US Oil Set to Surge on Middle East Tension... Are You Ready? - Ad

With the Middle East facing yet another conflict, now is the time to get in. That's why today I want to show you the best way to profit from oil in 2024. It's NOT a stock, future or bond... Rather, it's an unusual investment that could hand you huge monthly income from the oil and gas markets.

Bill Gates Had A 'Very Bad Habit' That Could Have Derailed His Career

While at Harvard, Bill Gates had a bad habit he liked to show off. The habit was later fixed as it wasn't something in the business world appreciated.

A promising schizophrenia drug showed mixed results. What does that mean for patients?

Some people who took a new schizophrenia drug for a year improved with only a few side effects, but many dropped out of the research, the company announced Thursday.

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now - Ad

A new technology (not AI) is powerful enough to save America $1.7 TRILLION in healthcare costs each year. Trump is rumored to use it personally... And Kamala Harris has threatened to have key patents on it seized. Whoever wins the election - it could cause a massive surge in demand... And send a tiny firm with key patents on this technology soaring. It's currently trading for only $7. But it likely won't stay this cheap for long.

Apple, Microsoft And 3 Stocks To Watch Heading Into Thursday

With U.S. stock futures trading lower this morning on Thursday, some of the stocks that may grab investor focus today are as follows:

Shytoshi Kusama Touts Shiba Inu Lifetime Gains Of 33774726%: 'We Still Have Far To Go And Much Work To Be Done'

Shytoshi Kusama, the mysterious lead of the Shiba Inu (CRYPTO: SHIB) ecosystem, highlighted the coin’s impressive growth since its launch and the work ahead to gain further recognition.

Elon Musk: Without This Company, "Civilization Will Crumble" - Ad

Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip? Ex-Wall Street CEO Dylan Jovine calls this "the easiest windfall from the AI revolution." Even ChatGPT founder Sam Altman says AI depends on this company's work...

$2.5 Million From Meme Coins? One Trader Seems To Have Cracked The Code

A whale made $2.5 million trading meme coins with potential for high profitability. Solonchain highlights effective risk management and upcoming conference on memecoins.

Jim Cramer Says Mark Zuckerberg Has 'Your Brain' As Meta Pours Billions Into Global Domination Strategy

Jim Cramer highlighted Meta CEO Mark Zuckerberg's unique marketing abilities, suggesting Zuckerberg's focus on dominance and precision targeting can create global impact, as Meta's strong Q3 earnings exceeded expectations despite some stock volatility.

Tesla Execs Are Freaking Out - Ad

You might not believe what you're about to see is real, but I assure you the video has been left unedited. It's so revolutionary that tech giants like Microsoft, Amazon, and NVIDIA are all lining up to get their hands on it. And Elon Musk has completely restructured Tesla to chase this opportunity.

Analyst Says This Crypto Could Explode By Up To 3.765%, And It Is Not Bitcoin Or Solana

Michaël van de Poppe, a well-known cryptocurrency analyst, has forecasted a massive upswing in the value of Sei, a competitor to Solana, with a potential increase of up to 3,765%.

Final jobs report before election will likely offer a blurred view of labor market

WASHINGTON (AP) — Americans on Friday will get their last major look at the state of the U.S. economy — the October jobs report — just four days before Election Day. The view, though, is likely to be that left many workers temporarily off payrolls.

Are You Aware of the Fed's Secretive New Move? (Not Cutting Rates) - Ad

$2 trillion has disappeared from the US government's books. The reason why is a new, secretive move being carried out by the Fed that has nothing to do with lowering or raising interest rates. According to Dan Ferris, you should consider moving money to a unique "escape" investment right away.

Batman Fan? You Can Now Score A Full Size Batmobile Replica For An Eye-Watering Price Of $3M

Wayne Enterprises Experience has 10 full-scale replicas of the famous Batmobile from The Dark Knight trilogy up for sale, each priced at nearly $3 million dollars.

The No. 1 Gold Play for 2025 - Ad

Everything is lining up perfectly for a historic gold bull run. One gold expert says he's found the best way to get in, for just $6.

Taiwan wants to join the IMF to get financial protection from China

WASHINGTON (AP) — Taiwan, a major economy the size of Poland but absent from global organizations, is making a longshot push to join the International Monetary Fund, the 190-country organization that offers members emergency loans and other financial assistance.

AMD Making 'Great Progress' With AI Giants: Jim Cramer Says AI Chip Story Is 'Not Just Jensen Huang'

Although Nvidia has dominated the AI chip market to date, Advanced Micro Devices CEO Lisa Su believes AMD will continue to see significant growth in the AI space — and she's not alone.

What Trump 2025 Means for Military Stocks - Ad

A recently tested new superweapon could defeat China and restore our nation's global dominance... And I predict it could send 5 military stocks soaring. But it gets much bigger... This one controversial move by President Trump could make this wealth-building opportunity bigger. You will not want to miss out this time.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service