Happy Halloween- Diesel Prices Rise From the Dead

Fuel markets move quicker than the Yankees blowing a 5 run lead.  On Monday we thought we were going to continue to reach fresh lows on Diesel pricing as traders sold off some more risk premiums attached to Mid-East conflict.  Israel silently affirmed it would not strike any Iranian oil or nuclear facilities on the urging of US policy makers.  However, that turned into a buying opportunity for others after seeing yesterdays Inventory report and data showing the US economy grew almost 3% in Q3.  Demand for both gasoline and distillates made a sharp swing last week, increasing over 5% year over year.  While some of this is made up from exports, which is up a whopping 18%, it is tough to argue that the thirst doesn’t exist somewhere.  As of this morning, Diesel Futures have recouped all of Mondays losses.  Still look for us to be in this $.12-$.15 range for the next few weeks with today being the high side.  As it was brought up to me this past week, we are always willing to do Lunch and Learn Teams Calls or in person meetings to expand on the weekly updates, and suit the conversations to your specific company needs and goals.