Market Close: May 16 Mixed, Diesel Down 1.37 Cents
May 16th, 2022 by loren
Fueling Strategy: Please fuel as needed tonight, Be Safe
NMEX Crude $114.20 UP $3.7100
NYMEX ULSD $3.9075 DN $0.0137
NYMEX Gas $4.0116 UP $0.0651
NEWS
Besides Chinese demand and European supply issues, traders are also monitoring U.S gasoline stocks. U.S. gasoline futures set an all-time high again on Monday as falling stockpiles fueled supply concerns. Supply is expected to continue to fall and prices rise as traders prepare for the summer driving season.
Bullish Scenario
A sustained move over $105.77 will indicate the presence of buyers. Taking out the intraday high at $109.82 will indicate the buying is getting stronger and could create the upside momentum needed to challenge the main top at $110.07. A trade through $110.07 will reaffirm the uptrend and could trigger an acceleration into the March 7 main top at $116.43.
Bearish Scenario
A sustained move under $105.77 will signal the presence of sellers. This could trigger a sharp break into a series of potential support levels at $102.48, $100.99 and $98.90.
Regarding possible fuel shortages on the east coast. Please find our major suppliers “Location Updates Links” below.
You will notice there’s NO updates presently but we must proactively plan for the worst case scenario so we highly recommend the following fueling strategy for this area:
When heading anywhere towards the eastern side of the country (Georgia, North and South Carolina, Virginia, Maryland, Pennsylvania, New York and New Jersey) ALWAYS go in with your tanks completely full of fuel period – Do NOT Take The Chance (Risk) of Running Out of Fuel!
* Never assume you can get fuel ahead of you
* Make the extra stop and add fuel to your tanks before heading into this region.
* Limit Layover Time – Idling your tank burns from 1.0 to 1.25 gallons per hour which can make the difference of getting out the effected area with enough fuel in your tanks.
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!
Marketing & Sales: Brian 817-480-2102
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