It is difficult sometimes to stay positive when you see your fuel bill increase $.70 in a month, but recall how we said “Hope’s not a four letter word”. The last five days (not including today) have seen about $.15 in value come off in diesel pricing so hopefully we are on our way to a modest correction. It is even more difficult to make clarity of market factors, as most times, human sentiment moves pricing more than data. With a large Crude drop of almost 6m barrels per day, one would assume a modest increase in futures yesterday. Not so, as weekly numbers are often subject to sharp swings and monthly numbers are more reliable. Monthly diesel demand appears flat to slightly down. The market shrugged off the Inventory data and focused more China lagging economy and Fed policy.
In terms of staying positive, My Team recently read a short book, The Go Giver. An easy read with 5 laws on giving. One point is the Law of Influence, where you put other people’s interest first. We work with and for, a wide range of Customers and actively promote our Customers Goods and Services to others we come across. These referrals overtime help cultivate a large network of Individuals and Companies. I encourage everyone to think about referrals in their business dealings, you’ll be surprised in the returns.
While we are seeing some buy back early today and the Index up early, longer term I “hope” to see the correction to continue as the summer draws to a close.