Ceasefire & Cold Fronts: What’s Next as Winter Sets In

Late last week the focus was strictly on the fear premium associated with increased Russian and Israeli force.  Markets have since cooled off as at least one of the conflicts appear to be taking a pause.  A 60 day cease fire has been declared between Isreal and Hamas within Lebanon, allowing civilians to return and humanitarian efforts to begin.  The deal seems promising, however it only applies to the Israeli retreat of Lebanon.  Is it all encompassing pause?    I would like to see some more selling off but with expected draws in inventories today, a short trading day and very little volume, my sense is that futures will likely stay somewhat elevated until the first of the month.  Light trading volumes usually result in larger daily swings.  With the time honored tradition of moving the snowblower from the shed to the garage, I am officially awaiting the winter season to commence.  Ten day forecasts throughout the region have nightly temps in the teens and even single digits.  Our winter diesel program is ramping up with a full switch over early next week.  Please do not hesitate to reach out with any questions.   From all of us at DKB, wishing all a safe and Happy Thanksgiving!