Market Close: Dec 31 Down
Dec 31st, 2019 by loren
Fueling Strategy: Please fuel as needed today/tonight, Be Safe and have a great New Year
NYMEX Crude $ 61.06 DN $.6200
NYMEX ULSD $2.0283 DN $.0123
NYMEX Gas $1.6978 DN $.0305
NEWS
- West Texas Intermediate crude is pacing to end the quarter with a 14% gain, and hedge funds are taking note.
- “Hedge funds have swung from extreme bearishness to extreme bullishness,” Ned Davis Research energy strategist Warren Pies said Monday. The firm remains positive on oil, but noted that the “bull case is weakening.”
- RBC’s Helima Croft said that now that macro headwinds such as the US-China trade war have subsided, people can see “light at the end of the tunnel” and oil can accelerate gains going forward.
Have a Great Day,
Loren R Bailey, President
Fuel Manager Services Inc.
Office: 479-846-2761
Cell: 479-790-5581
