Energy Market Updates

Oil futures jumped late yesterday and continue to rise early this morning on news that a Federal Trade Court has ruled the Administrations use International Tariffs does...

The sell off in Diesel futures recently is welcome news to most as pricing is down roughly $.10 from a week ago. With new demand figures released yesterday showing...

The massive JENGA puzzle commonly referred to as the Oil Market has seen several layers added on top in the last week. Only to wake up today to a shaky future. Diesel...

Ahh, the first day of Spring, flowers poking through, grass greening up, Daughters 21^st Birthday (ugh!). Perfect time to inspect tanks and access ways for any damage the...

Fuel prices are remaining alarmingly resilient in the last week as the focus has been completely on the Ukraine- Russian “conflict”. Yes, that was the first step in the...

Just like August are the dog days of Summer, February is the dog days of winter. It can be a grind as mother nature lets you know she is still in charge by gifting us...

It’s amazing what the hard times can reveal. Pricing jumped Monday pushing us to the higher end of our current range as new fear arose with the ongoing Russian- Ukraine...

After testing the limits of the top half of the range on Monday, ULSD cooled off the last three days by about $.10 to fall into the comfort zone of the mid $2.60’s. The...

With the inventory report delayed due the Monday holiday, we were able to enjoy the recent correction in pricing for another day.  We are about $.11 cheaper today than a week ago and $.25 lower than two weeks ago, basically back to where we started at the beginning of the month.  Interesting to note that we are right around the same spot as we were a year ago this time.   It is almost as if the market has priced in the ongoing world tension and once again is looking at more fundamental sources of influence.  The last week was like the most aggressive in terms of shipping attacks, retaliation, and a war of words, yet futures overall are lower.   Additionally, we are coming up on the two year anniversary of the Russian invasion of Ukraine with little or no end in sight.   Traders instead are focused on FED rates and demand figures that still appear to be bearish in nature.

Coming off the Monday Holiday, prices surged higher Tuesday as OPEC+ heavyweights Russia and Saudi Arabia confirmed they would extend voluntary production cuts through the end of the year.  Fueling the rise from the Cpt. Obvious department, big banks publish reports to expect $107 Crude if cuts maintain.  Buy the rumor, sell the fact.  Diesel had a nice sell off going, but remember, one day doesn’t reverse the trend.  Wednesdays intraday action erased almost all of the gains only to settle down slightly.  While we still sit almost $1 higher in pricing than the beginning of the Summer, you would have to think better days are to come.  Current JUNE 24 Diesel future pricing is $.45 less than front month October 23.