Fueling Strategy: Diesel users, Please keep your tanks full of fuel today/tonight for safety purposes, Saturday prices will remain flat to slightly up but Christmas day look for diesel prices to jump up 13+ cents.

 

Gas users, look for a jump of 13.5 cents Saturday – definitely top your tanks before the Christmas break.

Fuel Manager Services wishes every one a safe and great Christmas! We are so thankful to get to work with the management teams and drivers daily. 

NMEX Crude     $ 79.56 UP $2.0700

NYMEX ULSD    $3.2661 UP $0.1347

NYMEX Gas      $2.3836 UP $0.1348

NEWS

A larger-than-expected inventory draw and a major winter storm in the U.S. this week pushed oil prices higher, although fears of further monetary tightening have limited the rally.

A supportive EIA weekly report and concerns about the big freeze forcing production shut-ins pushed oil prices higher this week, although news of better-than-expected Q3 performance in the U.S. has raised the prospect of further interest rate hikes. While fears of an economic slowdown added downward pressure to oil prices, both WTI and Brent rallied on Friday morning as bullish sentiment returned.

Keystone Spill Triggers Permitting Scrutiny. The US pipeline regulator has pledged to review all special permits that waive operating requirements for trunk pipelines, coming on the back of the Keystone oil spill in rural Kansas, the only US pipeline with a special permit to operate at a higher pressure.

Saudi Arabia Slams Politics in Oil. Saudi Arabia’s Energy Minister Abdulaziz bin Salman lashed out against the politicizing of statistics and forecasts aimed at discrediting OPEC+, criticizing the IEA’s recent market calls as sowing confusion and triggering misguided interpretations of the market.

US Gas Prices Spike Ahead of Freeze. With swathes of the US preparing for a cold spell, natural gas spot prices in the Northeast have soared to a five-year high with the benchmark Algonquin city-gates quote exceeding $30 per mm-Btu, a whopping $22-23/mm-Btu premium to Henry Hub.

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!

 

“Celebrating 30-years of Service Excellence”

www.FuelManagerServices.com

 

“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” ~ Douglas Adams