Fueling Strategy: Diesel users, Please fuel as needed today/tonight, prices are down 6.5 cents, Thursday prices will remain unchanged to slightly up. It will be VERY important for you to keep your tanks full tanks from now until 23:00 CST Thursday night.
Gasoline users, As predicted prices will continue to ramp up to Christmas, Thursday prices will jump UP another 3.5 cents- Be Safe Today
NMEX Crude $ 78.29 UP $2.0600
NYMEX ULSD $3.1395 UP $0.0806
NYMEX Gas $2.2558 UP $0.0330
NEWS
Oil rallied to the highest since early December as US crude inventories fell more than anticipated.
West Texas Intermediate futures for February settled above $78 a barrel after a 5.90-million-barrel stock draw reported by the Energy Information Administration helped reverse the selloff earlier this month. Trading volumes sank to the lowest level since May with many participants already gone for the holidays.
Crude remains on track for the first back-to-back quarterly decline since 2019 as further tightening by leading central banks risks tipping the US and European Union into recession. Traders are also tracking the impact of China’s easing of harsh virus restrictions, and a warning from Saudi Arabia that the Organization of Petroleum Exporting Countries and its allies would remain proactive and pre-emptive in managing the global oil market.
Russia’s seaborne oil shipments collapsed in the first week of Group-of-Seven sanctions targeting Moscow’s petroleum revenues, a potential source of alarm for governments around the world. In North America, meanwhile, TC Energy Corp pushed back the full return of its Keystone pipeline by a week.
Have a Great Day,
Loren R Bailey, President
Office: 479-846-2761
Cell: 479-790-5581
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As always, thank you so much for being a part of the Fuel Manager Services, Inc. family, and we look forward to making this the best year yet!
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