Fueling Strategy: Please “PARTIAL FILL ONLY” today/tonight, Friday prices will drop 4 cents & you’ll need to keep your tanks completely full of fuel to get ahead of Saturday’s 12 jump UP ~Be Safe
NMEX Crude $ 70.62 UP $2.3500
NYMEX ULSD $2.4796 UP $0.1219
NYMEX Gas $2.6417 UP $0.0871
NEWS
July WTI crude oil on Thursday closed up +2.35 (+3.44%), and July RBOB gasoline closed up +8.71 (+3.41%).
Crude oil and gasoline prices Thursday settled sharply higher. A slump in the dollar index Thursday to a 1-month low is bullish for energy prices. Crude also found support on Thursday’s action by the PBOC to lower interest rates, which may revive economic growth and energy demand in China. In addition, Thursday’s rally in the S&P 500 to a 13-3/4 month high shows confidence in the economic outlook that is supportive of energy demand.
Strength in the crude crack spread is bullish for crude prices as the crack spread Thursday jumped to a 2-1/2 month high. The stronger crack spread encourages refiners to boost their crude purchases to refine the crude into gasoline and distillates.
Crude prices found support Wednesday after China issued its third batch of crude oil quotas this year, a positive sign for Chinese energy demand. Bloomberg reported that the Chinese government gave refiners an allocation of 62.28 million tons, which took the total quota this year to around 194 million tons, +18% more than the same time last year.
Have a Great Day,
Loren R Bailey, President
Office: 479-846-2761
Cell: 479-790-5581
SCHEDULED OUT OF OFFICE
JULY 07 AT 2:00 PM
JULY 14 AT NOON
JULY 21 AT 3:00 PM
SEPT 01 OUT ALL DAY
NOV 01-02-03 VACATION
Tell Us How We’re Doing On Google Business
https://g.page/r/CUyL9wDolv04EAI/review
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 30-years of Service Excellence”
“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” ~ Douglas Adams