Market Close: June 10 UP, Diesel UP $.0630, Gas UP $.0283
Jun 11th, 2024 by loren
Fueling Strategy: Please “KEEP YOUR TANKS TOPPED TODAY/TONIGHT, Wednesday prices will go UP 6 Cents ~ Be Safe Today
NYEX Crude $ 77.74 UP $2.2100
NYMEX ULSD $2.4147 UP $0.0630
NYMEX Gas $2.4109 UP $0.0283
NEWS
Prices had climbed about 3% to a one-week high on Monday, buoyed by expectations that the Northern Hemisphere summer vacation season will boost fuel demand this summer. Some analysts said the gain was likely to be short-lived given the prospect of higher interest rates remaining due to stronger-than-desired inflation.
The release of U.S. consumer price index data for May and the conclusion of the Fed’s two-day policy meeting are both scheduled for Wednesday.
“More conviction may be needed in oil prices for a more sustained recovery with a move above the $83.00 level, given that the broader trend for oil prices still leans on the downside with a series of higher highs since April,” IG market strategist Yeap Jun Rong said.
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Loren R Bailey, President
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Cell: 479-790-5581
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JUN 06 VACATION LEAVE AFTER LUNCH
JUN 10 RETURN/ARRIVE 1300
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