Fueling Strategy: Make sure tanks are full of fuel today, tonight before 23:00 CST completely top out all tanks, Saturday prices will go UP $.04 cents ~ Be Safe
NMEX Crude $113.90 UP $1.5600
NYMEX ULSD $4.1146 DN $0.0388
NYMEX Gas $3.4700 UP $0.0803
NEWS
It’s been another very busy week for oil and gas markets as Putin threatened European gas imports, a storm knocked a major oil pipeline offline, and a Saudi oil terminal came under missile attack. Brent is back above $120 per barrel as bullish sentiment remains dominant, but plenty of bearish factors are still looming.
The beauty of the oil market lies in how unpredictable it is. The big story of this week – storms damaging export facilities of Kazakhstan’s flagship 1.2 million b/d CPC grade – was expected to drag oil prices down on Friday when loadings restarted.
Just as it seemed that Brent could move lower from the $120 per barrel mark, the specter of Saudi supply disruption reappeared with an oil storage facility taking a missile hit in Jeddah, presumably from Yemen’s Houthi militias.
Coupled with the dormant Iranian nuclear deal and incessant European quarreling about the right way to sanction Russia – not even a coal embargo could be agreed upon – predicting the movement of the oil market is only getting harder.
Have a Great Day,
Loren R Bailey, President
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Cell: 479-790-5581
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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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