Fueling Strategy: Please partial fill ONLY or better yet “don’t fuel tonight”, Thursday prices will drop over 12 cents then Friday look for another drop of 7 cents ~ Be Safe
Fueling Strategy: For Gasoline Users  – Please don’t fuel tonight Thursday gasoline prices will drop 5 cents ~ Be Safe

NMEX Crude     $ 80.15 UP $.0200

NYMEX ULSD    $3.3613 DN $.0659

NYMEX Gas      $2.5934 DN $.0553

NEWS

Oil edged higher in a volatile session as technical market indicators signaled to traders that higher prices may be around the corner.

West Texas Intermediate managed to hold above $80 a barrel on Wednesday after swinging through much of the session. Rising US crude inventories and so far lackluster corporate earnings kept gains in check while faith in China’s rebound prodded an overall advance.

At least one technical gauge seemed to vindicate the bulls. WTI’s 25-day moving average is close to crossing over its 50-day moving average, which markets interpret as evidence of longer-term strengthening that often spurs additional buying. 

Oil is largely unchanged for the month after a weak start to the year. The outlook for China and a weaker dollar — which makes commodities priced in the currency more attractive — have helped oil claw back some ground. Traders will be closely watching for signs of increasing Chinese demand once the lunar New Year festivities have concluded.

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!

 

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