Market Close: May 09 Up, Up & Away….
May 9th, 2018 by loren
Fueling Strategy: Please partial fill ONLY today/tonight, Thursday it’ll be very important that we buy as much fuel as possible due to 1) prices will be down 3.5 cent and 2) Friday prices will go up 6 cents – Get Ready to pay more for fuel, due to the USA pulling out of the Iran deal the commodity markets are going to react bullishly – Breaching this deal pulls 400,000 barrels daily off the open market – Be Safe
NYMEX Crude $ 71.14 UP $2.0800
NYMEX ULSD $2.2180 UP $0.0603
NYMEX Gas $2.1673 UP $0.0559
NEWS
- Oil prices surged higher on Wednesday, hitting 3½-year highs, after U.S. President Trump abandoned a nuclear deal with Iran .
- Iran re-emerged as a major oil exporter in 2016 after international sanctions against it were lifted in return for curbs on its nuclear program.
- Saudi Arabia said it would work with other producers to lessen the impact of any shortage in oil supplies.
Have a Great Day,
Loren R Bailey, President
Fuel Manager Services, Inc.
“We Offer More Services to Fuel Your Business”
Office: 479-846-2761
Cell: 479-790-5581
“Perform at your best when your best is required. Your best is required each day.” ~ Coach John Wooden