Happy First Day of Spring: Seasonal Adjustments & Global Tensions
Ahh, the first day of Spring, flowers poking through, grass greening up, Daughters 21st Birthday (ugh!). Perfect time to inspect tanks and access ways for any damage the...
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Ahh, the first day of Spring, flowers poking through, grass greening up, Daughters 21st Birthday (ugh!). Perfect time to inspect tanks and access ways for any damage the...
All Markets appear to be on edge as they try to figure out what the actual effect of tariffs would be with Canada and Mexico, if they are ever more than just words. Fuel...
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...
I was out the last few days. Anything happen while I was gone? The elephant in the room is what to expect with a new Administration coming in January. Short term, don’t...
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.
Future pricing action continues to be as wild as a Patriots game ending, with the average swing intraday running over $.12 from high to low. Yesterday’s bump higher in diesel was somewhat expected on the heels of three strong down days and a fair amount of market moving news on tap.
A few weeks ago we hoped to see ULSD trading $.50 lower, as the cash market was tumbling at warp speed. And would you look at that, here we are! Much of those losses have come from the last 5 sessions alone. (see chart below).