Market Close: June 13 UP
Jun 13th, 2019 by loren
Fueling Strategy: Please partial fill ONLY today, Friday prices will drop 4 cents – Be Safe Today
NYMEX Crude $ 52.28 UP $1.1400
NYMEX ULSD $1.8066 UP $0.0267
NYMEX Gas $1.7199 UP $0.0338
NEWS
- Oil prices have been slammed by worries about the slowing global economy and trade conflicts, but a tanker attack in the Middle East revives geopolitical fears and puts a premium back in oil prices.
- Analysts say Brent oil could trade in a range of as low as $50 to as high as $80 per barrel or more, depending on whether the market is worried about a global economic slowdown or threats to Middle East oil supply.
- “I think the oil traders don’t know how to deal with Iran risk, but they do know how to conceptualize a trade war destroying demand,” says RBC strategist Helima Croft. “The summer is going to be this: What war is going to dominate the market? A trade war or a shooting war?”
Have a Great Day,
Loren R Bailey, President
Fuel Manager Services Inc
Office: 479-846-2761
Cell: 479-790-5581