Fueling Strategy: Please fill as needed tonight, Saturday AM wholesale prices will change slightly but please partial fill enough to get to Sunday AM when wholesale prices will drop – Be Safe Today!

NYMEX Crude $ 29.64 DN $1.1300
NY Harbor ULSD $1.0255 DN $0.0537
NYMEX Gasoline $ .9594 DN $0.0130

NEWS
Oil futures ended lower Friday as investors returned their focus to a global glut of crude, but the U.S. benchmark hung on to a weekly gain as bulls looked for signs of a bottom.

Brent oil the global oil benchmark, slid $1.27, or 3.7%, to end at $33.01 a barrel on London’s ICE Futures exchange, marking a 1.1% weekly decline. On the New York Mercantile Exchange, West Texas Intermediate futures, the U.S. benchmark, fell $1.13, or 3.7%, to $29.64 a barrel. The nearby contract posted a weekly gain of 0.7%.

Oil futures saw little movement after oil-services firm Baker Hughes said the number of U.S. rigs fell for a ninth straight week.Oil saw choppy trading this week as investors weighed a proposed deal among major producers aimed at freezing production that appeared not to gain traction. Four major oil producers—Russia, Saudi Arabia, Qatar and Venezuela—proposed a collective production freeze at the January levels. Iran, however, has refused to join, reiterating its plan to crank up output and regain lost market share after the international sanctions against Tehran were lifted in January. Saudi Arabia’s finance minister on Thursday said the country wasn’t prepared to cut production. “The talks between oil producers in recent weeks always seem to follow the same old pattern: no sooner are there signs that the countries might agree on a common denominator than the next denial comes,” said analysts at Commerzbank in a note. “We believe that an agreement between the leading oil producers is virtually out of the question. That said, the negotiations are not entirely pointless. For one thing, future cooperation cannot be ruled out, and for another the numerous reports also illustrate the desperation of some countries—Venezuela in particular—and their dire financial situation,” they added. Indeed, some analysts argued that recent price action supported hopes that crude has found a near-term bottom.

Even if they don’t amount to much, recent talks “may be the first indication of willingness to act to prevent prices falling further,” wrote analysts at Capital Economics. “It is also notable that Brent has managed to hold above $30 per barrel for most of the past four weeks. A sustained recovery may require something more substantial, but for now at least oil prices appear to have found a floor.” Underscoring that the world is awash in crude, data from the U.S. Energy Information Administration on Thursday indicated domestic crude stockpiles rose by 2.1 million barrels last week to 504.1 million barrels, a fresh weekly record high. In monthly data, which don’t line up exactly with weekly data, inventories last exceeded 500 million barrels in 1930.

U.S. oil production also stayed resilient, at around 9.1 million barrels a day. While it has peaked at 9.7 million last April, U.S. output hasn’t fallen by as much as expected despite a more than 60% drop in rigs drilling for crude in the U.S. and cuts in capital expenditures by oil companies.