Fueling Strategy: Please “KEEP YOUR TANKS TOPPED TODAY/TONIGHT” Prices will go UP 2.5 cents Saturday then Sunday look for prices to go UP another 2 Cents ~ Be Safe
NMEX Crude $ 81.04 DN $.2200
NYMEX ULSD $2.7270 UP $.0182
NYMEX Gas $2.7208 UP $.0175
NEWS
Oil held steady near a four-month high as extended production cuts from OPEC and its allies boosted expectations that the crude market is headed toward a deficit. Western Texas Intermediate edged lower but still settled above $81, capping a 3.8% gain for the week. The recent rally accelerated after crude crossed its 200-day moving average of about $78.13, potentially drawing in traders seeking to benefit from oil’s momentum.
“CTA trend followers’ buying activity has buoyed the commodities complex,” said Daniel Ghali, a commodity strategist at TD Securities. “Current price action is more likely tied to speculative positioning than fundamentals.”
Crude rallied this week after US stockpiles dropped for the first time since January and the International Energy Agency warned of a supply deficit for the year, reversing a forecast for a surplus. Geopolitical tensions also remain high after Ukraine attacked another Russian refinery. Potential headwinds to another leg higher in the rally include rising non-OPEC supply and softer physical markets as refineries go through seasonal maintenance.
Have a Great Day!
Loren R Bailey, President
Office: 479-846-2761
Cell: 479-790-5581
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JUN 06 VACATION LEAVE AFTER LUNCH
JUN 10 RETURN/ARRIVE 1300
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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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