Burke Oil Aids FEMA in Storm Restoration

Posted by Mark Pszeniczny on Nov 14, 2012 9:06:00 AM

Almost two weeks after Superstorm Sandy slammed the East Coast, Massachusetts fuel distributor Dennis K. Burke, Inc. continues sending fuel and resources to assist in FEMA relief efforts in the storm devastated areas of New York and New Jersey.

Adding insult to injury, a second major storm brought whipping winds and record snowfalls, hampering utility workers and adding another 200,000 to the 550,000 homes left without power.

Initially, Burke started sending fuel trucks to support the utility trucks traveling to some of the worst hit areas of New York. Two days after the storm, Burke sent five more trailers of fuel to join the caravans of utility trucks heading towards New York.

Just as the fuel distributor’s trucks were arriving in New York, FEMA officials were asking Burke if they could help by bringing in fuel for the army of emergency vehicles that were brought in to help with the recovery. The fuel dealer has been sending several trucks to New York and New Jersey every day since.

Dennis K Burke refueling trucks in a convoy

Burke has decades of working with utility companies in rough weather. During bad storms, the fuel company often sends trucks to fuel the utility trucks and tree-cutter’s trucks while they’re parked and out of service.

The company also offers its customers an emergency generator program, where they check the generator’s fuel status and guaranteeing emergency fuel deliveries in the New England area.

Dennis K. Burke, Inc. is one of New England’s leading suppliers of diesel fuel, gasoline and motor oil products. Burke supplies fuel customers in ten states, with terminal positions in eight states, across the Northeast and Mid-Atlantic region.

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Topics: Emergency Generator Program, New York Disaster Recovery, Hurricane Sandy, FEMA

New England braces for "Frankenstorm" - Is your Generator Ready?

Posted by Mark Pszeniczny on Oct 26, 2012 1:34:00 PM

As New England starts preparing for Hurricane Sandy’s expected landfall, don’t forget to make sure your generator is ready for the impact.  The Massachusetts Emergency Management Agency (MEMA) is predicting significant impacts to Massachusetts from the storm including downed powerlines, associated blackouts, and coastal flooding. (If you remember, in 2011, thousands of Mass residents went without power for several days after a freak October storm that downed powerlines.)  Experts are predicting up to a billion dollars of damage could result from the storm – to put that in perspective, “The Perfect Storm” that hit the East Coast in 1991 caused 200 million in damages.

Don’t roll the dice on this happening to you or your business.  A fueled up, properly operating generator is absolutely essential to ensure staff safety, protect crucial computer data, and keep your business’ critical operations from grinding to a halt.

Dennis K Burke is standing by, on call, to handle your generator fuel needs. We are on call 24-7-365 and run a full staff of drivers 7 days a week to ensure that your fuel needs are met. No matter what the emergency – we’ve got you covered.

We would also like to remind you that we have an Emergency Generator Fueling Program to ensure that a key part of your reliability plan for backup power is not overlooked going forward.

On this program, when the power is out, we guarantee fuel deliveries to keep your generator operating until the power outage is resolved, regardless of how long that might take. We have the fuel storage, the trucks, and the manpower to back it up.

To place an order for your generator, or to find out more about the program call us at 617-884-7800, or email us at insidesales@burkeoil.com. Any one of our dedicated, professional staff members can assist you.

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Topics: Hurricane Sandy, Generator Fuel, Emergency Fuel

NYMEX Collapses as Last Weeks Gains Erased

Posted by Mark Pszeniczny on Sep 17, 2012 5:45:00 PM

What a difference a week makes! Last Monday we were gearing up for a strong week ahead of QE3. Today saw the entire weeks gains in the Heating Oil pit get erased, finishing slightly below last Mondays close down .0761 to $3.1634. That is after the pit pulled back some even more robust losses that at about 1:30 had HO down .12 and RBOB down just over .11 cents. We said the 3.25 level on prompt month HO was a pretty strong resistance area and today's OCT HO high just happened to be 3.2500. Technical- schmechnical, it appears as though rumors abound that there was an SPR release of gallons happening. To which is still do not fully understand, if the Government has to maintain required levels in the SPR, are they not just selling high and replacing at a lower price later? To be clear on QE3, of which the Fed is buying back some $4 billion in mortgage backed securities, this had and still has the potential to be bullish for commodities should the dollar fall. But lets live for today and be happy the market fell today. Crude finished down $2.38 to $96.62 and RBOB lost .0723 to 2.9433.

Daily Heat Chart

heat chart

RBOB CLOSE
CLOSE CHANGE
 
OCT 29433 -.0723
NOV 28596 -.0719
DEC 28050 -.0712
JAN 27798 -.0714
FEB 27965 -.0710
MAR 27868 -.0706
HEAT CLOSE
CLOSE CHANGE
OCT 31634 -.0761
NOV 31644 -.0741
DEC 31633 -.0718
JAN 31594 -.0694
FEB 31472 -.0671
MAR 31259 -.0646
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Topics: Commodities, QE3, SPR Gallon Release

Futures Move Higher as Stimulus Plan Takes Shape

Posted by Mark Pszeniczny on Sep 10, 2012 3:52:00 PM

While much of todays chatter centered around the wild cash blowout of gasoline on Friday, up some .24 in NY harbor, markets found a way to turn positive ahead of the close. Many are betting that a new round of Quantitative Easing, also known as QE3, will be announced after this weeks FED meeting. This bet was doubled down after Fridays disappointing payroll figures.While the stimulus plans are designed to boost economic activity, Commodity prices are often collateral damage and many agree that we might see higher prices with this round. Keeping the pits in check are the fundamentals which, even besides this weekends short term blowout, the nation is well supplied. Additionally there was a memo sent by the Saudi Oil Minister confirming the oversupply of product as well as the unsubstantiated value of the current marketplace. Look for the remainder of the week to be a wild one. At the Close, Crude finished up .12 to $96.54, HEAT gained .0179 to $3.1668 and RBOB .0044 to $3.0240

 

Daily Heating Oil Chart

Heat map

RBOB CLOSE
CLOSE CHANGE
 
OCT 30240 +.0044
NOV 29051 +.0059
DEC 28304 +.0059
JAN 28013 +.0054
FEB 27965 +.0058
MAR 28059 +.0059
HEAT CLOSE
CLOSE CHANGE
OCT 31668 +.0179
NOV 31674 +.0167
DEC 31666 +.0167
JAN 31639 +.0173
FEB 31524 +.0186
MAR 31322 +.0192
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Topics: CRUDE, RBOB, QE3, Basis Blowout, Saudi Oil Minister

Refinery Explosion and Storm Fears Push RBOB Higher

Posted by Mark Pszeniczny on Aug 28, 2012 8:11:00 AM

The speculators jumped on the buying train as soon as trading opened Sunday evening and we saw RBOB jump to as high as 3.2050 (+.1250)before cooling off ahead of open outcry. The Explosion at the 650k bpd Amuay refinery in Venezuela is said to have caused at least 25 deaths and substantial damage to the surround area. With all the devastation, the unit is said to be back online by the end of the week. This facility is said to supply roughly 360 bpd of gasolines to the east coast. Additionally, the threat of Hurricane Isaac to the Gulf region has skyrocketed RBOB values. The storm, expected to make landfall sometime Tuesday evening, appears to be taking the same path as Rita and Katrina. This time however, it is much smaller in size and most offshore rigs have been evacuated and shutdown. The key to remember about storms is while it does take product off the market, it also reduces demand. The fact that HEAT finished marginally higher is a big win for Bears, considering it was up over .07 at one point. At the Close, Crude actually closed down .68 to $95.47, HO was up .0017 to $3.1118 and RBOB jumped .0768 to $3.1548.

WEEKLY HEAT CHART

weekly heat chart

HEAT
Close Change
SEP 3.1196 +.00170
OCT 3.1195 +.00080
NOV 3.1196 -.00540
DEC 3.1186 -.00920
JAN 3.1162 -.01210
FEB 3.1013 -.01380
RBOB
Close Change
SEP 3.1548 +.0768
OCT 2.9500 +.0395
NOV 2.8389 +.0049
DEC 2.7747 -.0112
JAN 2.7450 -.0180
FEB 2.7387 -.0209



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Topics: RBOB, Venezuela Refinery Explosion, Hurricane Isaac

Futures Spike on Bullish DOE Numbers

Posted by Mark Pszeniczny on Aug 1, 2012 4:01:00 PM

After last nights API data release that showed Crude suffering a massive 11.2 mbl draw, most were awaiting todays DOE numbers with one eye closed, hoping it was an aberration. For those watching the screens at precisely 10:30 this morning you saw Rbob spike 4 cents and HO jump 3. While not as horrific as an 11 million barrel draw, Crude still lost 6.5mbl according to the DOE. Gasolines fell 2.2mbl and distillates fell 974k. Still, far more than expectations. Other Bullish influences to the Market early were the Federal Reserve meetings that many had been betting on another round of stimulus. That gamble didn't pay off as a short time ago they announced that while the economic turn around has slowed, it doesn't warrant another round of stimulus... yet. The interesting note to the entire session is that Crude, at its peak today, was only up $1.50. In the last half hour of the trade, HO looked to be going negative as the air was let out of the balloon. RBOB inflated to much to peel off any of the gains and finished up .0599 to $2.8342, HO gained .0108 to 2.8588 and Crude added .85 to $88.91. Thursday sets up to be another exciting day with Jobless figures due out at 8:30.

Heat map

RBOB CLOSE
CLOSE CHANGE
 
SEPT 28342 +.0599
OCT 26281 +.0447
NOV 25322 +.0401
DEC 25398 +.0370
JAN 25282 +.0334
FEB 25322 +.0320
HEAT CLOSE
CLOSE CHANGE
SEPT 28588 +.0108
OCT 28663 +.0105
NOV 28748 +.0101
DEC 28819 +.0108
JAN 28869 +.0113
FEB 28831 +.0104
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Topics: DOE, Daily Heating Chart, RBOB, Crude draws, Stimulus

Weekly DOE Petroleum Snapshot

Posted by Mark Pszeniczny on Jul 18, 2012 2:35:00 PM

As always, the EIA site is an invaluable resource for snapshotting inventory, futures and spot pricing. I've highlighted some relevant snapshots below, but for more information you can also visit http://ir.eia.gov/ this will allow you to reference any of the weekly/daily inventory reports (weeklys are published every Wednesday)

Here are the majors:

Trade estimates 7 18 12DOE Change 7 18 12API Change 7 18 12 

 

The weekly inventory report on US and PADD1 Crude is:

Figure 1. Stocks of crude oil by PAD District, January 2011 to present

 

Heres a snapshot of spot pricing this week:

spot pricing DOE report

 

 

 

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Topics: Inventory report, DOE

Spanish Banking Bailout causes Stir, Only to Falter

Posted by Mark Pszeniczny on Jun 11, 2012 3:24:00 PM

For many of us who log in to check the market on Sunday evenings at PM, it is often times like Christmas morning to see what the surprise will be. Last night we got a lump of coal to see Commodity futures skyrocketing on news of a Spanish banks receiving a $120 billion dollar bailout. Heating Oil was as high as +.07 at one point. The infusion of cash looks to signal that the Euro will be around for a while longer. As the sun rose, the speculative gains were peeled away and the wheels fell off the cart with about an hour left in the session. Crude finished less $1.40 to close at $82.70, RBOB slipped .0286 to $2.6566 and HEAT fell .0364 to $3.6357, a whopping .11 cents lower than Sunday evening. It appeared that the bullish appointments on the calendar just could not keep the rally going. Next week, Greece has elections, Iran is set to meet with a group of five Nations on its nuclear program with Israel going increasingly impatient and the scheduled FOMC meeting. Many have commented on the limit to the downside in the pits after retracing some 60 cents in the last 50 days. With Europe still not out of the woods, the trend is your friend.

Daily Heating Oil Chart

heat map

RBOB CLOSE
CLOSE CHANGE
 
JUL 26566 -.0286
AUG 25877 -.0338
SEPT 25322 -.0378
OCT 23775 -.0387
NOV 23511 -.0388
DEC 23428 -.0365
HEAT CLOSE
CLOSE CHANGE
JUL 26357 -.0364
AUG 26394 -.0357
SEPT 26468 -.0350
OCT 26558 -.0352
NOV 26676 -.0352
DEC 26789 -.0354
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Topics: Iran, European Economy, Spain Banking Bailout, Euro Debt Zone

Wild May Ends in Wild Fashion with HEAT retracement

Posted by Mark Pszeniczny on May 31, 2012 5:23:00 PM

Lets take a minute to put this month into perspective as we all recognize our short memories. On May 1, HO opened at 3.1783. Todays close of 2.7062 is an astounding .4721 cent retracement. For several weeks we spoke of a fall to the 2.75 level on prompt month Heat, and it has become a reality. With the majority of talk centered around the ongoing European crisis, today saw more length shed from Commodities on the heels of continued growing Crude stocks and some uninspiring job data. The delayed DOE report showed Crude adding 2.2mbbls against an expected build of 800k, yet gasolines fell 832k and a rather bullish distillate draw of 1.7mbbls, verses expectations of +200k and +500k respectively. Traders apparently feel that Crude levels are so robust, it far outweighs and week to week changes in refined products. Secondly, ADP's monthly report on new job growth fell short of expectations as it showed 133k unit gain. Support that figure was new jobless claims rose by roughly 10,000 this past month. All in all, the market continues to search for a bottom as the US dollar gains strength and length is pulled from Commodities. At the close, Crude fell 1.29 to $86.53, RBOB lost .0332 to $2.8250 and HEAT slipped another .0336 to $2.7062

Daily Heating Oil Chart

Heat map

RBOB CLOSE
CLOSE CHANGE
 
JUN 28250 -.0332
JUL 27227 -.0512
AUG 26676 -.0477
SEPT 26244 -.0444
OCT 24770 -.0430
NOV 24442 -.0408
HEAT CLOSE
CLOSE CHANGE
JUN 27062 -.0336
JUL 27032 -.0406
AUG 27130 -.0403
SEPT 27249 -.0394
OCT 27375 -.0385
NOV 27507 -.0380
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Topics: Jobless claims rise, HEAT, CRUDE

European Zone Crisis pushes Futures Lower

Posted by Mark Pszeniczny on May 17, 2012 3:44:00 PM

For the last several days NYMEX values have been on the losing end of good Ol' fashion Donny Brook coming at the hands of the ongoing European debt crisis. With new Leadership installed in several countries, investors are not taking any chances and removing cash as quickly as possible. The latest round today had the European Central Bank preparing for Greece's exit from the Euro sending the currency to a four month low versus the US dollar. Commodities again were the collateral damage as money continues to exit the pits. Japans signs of economic recovery from their recent natural disasters, reports showed a 1% increase in their economy, along with an anemic Jobless claim report ( statically flat) could not stop the bleeding in the pits today. When prompt Heat was at 3.30,we noted the major support level to be at 2.75 with a few stop along the way and a key being 2.95. As those levels have been broken, it will be interesting to see where we stop. Interesting to note the seaway pipeline that runs Crude north to Cushing, OK has just finished a flow reversal that will allow product to move south from Cushing to the Gulf region for refining. Product is expected to flow this weekend, alleviating the glut of WTI in the US, should also play a role in reducing the Brent - WTI spread. At the close Crude lost .25 to $92.56, HEAT fell .0486 to $2.8490 and RBOB lost .0427 to settle at $2.8782.

 

Daily Heating Oil Chart

daily heat map

RBOB CLOSE
CLOSE CHANGE
 
JUN 28782 -.0427
JUL 28174 -.0477
AUG 27737 -.0494
SEPT 27354 -.0497
OCT 25962 -.0482
NOV 25643 -.0477
HEAT CLOSE
CLOSE CHANGE
JUN 28490 -.0486
JUL 28556 -.0483
AUG 28641 -.0478
SEPT 28723 -.0474
OCT 28804 -.0467
NOV 28889 -.0462
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Topics: European Economy, Greece, Brent Crude, Brent vs WTI, Euro Debt Zone

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