Fueling Strategy: Please refill tonight before 23:00 CST, Thursday AM wholesale prices will go up almost one penny then Friday AM wholesale prices will drop 4 cents- Be Safe Today!

NYMEX Crude $ 42.93 DN $1.2800
NY Harbor ULSD $1.4477 DN $0.0388
NYMEX Gasoline $1.3294 DN $0.0324

NEWS
Crude-oil prices tumbled Wednesday, closing sharply lower on the heels of weekly crude-oil supply data late Tuesday that surprised investors, sparking fresh worries about growing U.S. crude stockpiles.

On the New York Mercantile Exchange, December West Texas Intermediate crude shed $1.28, or 2.9%, to settle at $42.93 a barrel, marking its lowest settlement for a most-active contract since Aug. 27, according to FactSet data. December Brent crude on London’s ICE Futures exchange finished $1.49, or 3.1%, lower at $46.10 a barrel. The slump in crude prices follow data from the American Petroleum Institute, which showed a surprising jump in crude-oil supplies of 6.3 million barrels for the week ended Nov. 6. By comparison, a survey of analysts polled by energy-industry data provider Platts forecast an increase of just 500,000 barrels and a Wall Street Journal poll estimated a 1.1 million increase. “We’ve gotten blindsided by the API [data]. That’s really put a negative spin on things,” Phil Flynn, senior market analyst at Price Futures Group, told MarketWatch. Market participants will await the more closely watched U.S. Energy Information Administration report due Thursday morning as a result of the Veterans Day holiday. Flynn said until that data is released traders are essentially “flying blind” because of the downbeat nature of the API report. Last week, U.S. inventory rose for the sixth straight week, increasing by 2.8 million barrels to reach 482.8 million barrels. Matt Smith, director of commodity research at ClipperData, said a build in supplies is concerning, considering that the U.S. oil inventories are close to matching an 80-year high of 490 million barrels, reached this past spring. “This is indicative of ongoing oversupply in the U.S. market,” Smith said of the inventory reports and oil’s Wednesday slump.

Rising surplus amid slowing demand continues to weigh on prices, especially as major oil producers of the Organization of the Petroleum Exporting Countries stuck to the “no production cut” strategy with the aim that weakening margins will eventually knock out smaller competitors. “The strategy is working because U.S. production has been declining. More American shale producers are turning off their taps,” said Barnabas Chen, an OCBC energy analyst

In addition to data from EIA, traders also will be looking out for a monthly report from OPEC, which could provide more details on the cartel’s pace of production. The slide for oil comes a day after an upbeat monthly short-term energy outlook report published by EIA Tuesday estimated U.S. crude-oil production declined by 40,000 barrels a day in October from the previous month. It projected crude production will average 8.8 million barrels a day in 2016, compared with the 9.3 million projection for this year. Last week, the EIA reported U.S. crude production grew by 48,000 barrels a day to 9.16 million barrels.