Monday PM Fueling Strategy: Please “FUEL AS NEEDED” today/tonight, ~Be Safe

NMEX Crude      $ 82.51 DN $.6800

NYMEX ULSD     $3.0883 DN $.0332

NYMEX Gas       $2.9062 DN $.0587

NEWS

September WTI crude oil on Monday closed down -0.74 (-0.89%), and Sep RBOB gasoline closed down -5.87 (-1.98%).

Crude oil and gasoline prices Monday settled moderately lower.  Monday’s rally in the dollar index to a 5-week high pressured energy prices.  Also, concerns that a worsening of China’s property debt crisis will weigh on its economy and energy demand undercut crude prices.

Crude prices are under pressure on fresh concerns about China’s economy after a unit of Zhongzhi Enterprise Group, one of China’s top private wealth managers, missed payments on multiple high-yield investment products.  The worsening of China’s debt crisis threatens to curb economic growth and demand for commodities, including crude oil.

Another negative factor for crude prices is the progress made in Iran-U.S. relations that could lead to higher crude exports from Iran after Iran said last week’s deal with the U.S. on the release of prisoners and frozen Iranian funds could lead to diplomacy in other areas, including its nuclear program.  An agreement on Iran’s nuclear program could prompt the U.S. and its allies to remove sanctions on Iranian crude exports, boosting global crude supplies.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

 

SCHEDULED OUT OF OFFICE

AUG 14 ALL AFTERNOON 

AUG 22  13:00 TO 15:30

AUG 23 ALL AFTERNOON

SEPT 01 OUT OF OFFICE

 

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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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