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Market Close: July 16 DOWN, Diesel DN $.0448, Gas DN $.0141

7/17/24 Fueling Strategy: Please, If possible, “PARTIAL FILL ONLY TODAY/TONIGHT” Thursday prices will DROP 4.5 Cents ~ Be Safe

NYEX Crude      $  80.76 DN $1.1500

NYMEX ULSD     $2.5136 DN $0.0448

NYMEX Gas       $2.4916 DN $0.0141

NEWS

WTI Crude Oil futures struggled to hold footing Monday after Chinese GDP came in at 4.7% y/y Sunday night, lower than the 5.1% forecast and the lowest since Q1 2023.

Although Industrial Production for June did beat at 5.3% versus 4.9%, it slowed from the prior month’s while Retail Sales also missed and Fixed Asset Investment hit a four-month low. The slate of poor economic data played into the “slowing China” narrative and left a difficult path for Crude Oil which has hit the lowest since June 26th this morning.

U.S. Retail Sales data came in better than expected this morning, which reinforces the idea of a strong economy domestically, and one that can support prices at the pump.

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

July 19 After Lunch

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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 31-years of Service Excellence”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford

Categories: Fuel News
loren: Fuel Manager Services Inc. "Serving the trucking industry since 1992" I've been in and around the trucking industry for 45-years beginning in owner operator operations at Willis Shaw Express. I bought a small trucking company that I ran for 6-years then sold and went to work for J.B. Hunt Transport in 1982. After 10-years with Hunt, I started Fuel Manager Services, Inc., we are in our 29th year of serving the American trucking companies. Our simple goal was and is to bridge the gap between the trucking companies and the fuel suppliers.