Fueling Strategy: Please keep tanks topped tonight before 23:00 CST refill all tanks, Friday AM wholesale prices will go up almost 1.5 cents – Be Safe
NYMEX Crude $ 40.54 DN $.2100
NY Harbor ULSD $1.3718 DN $.0086
NYMEX Gasoline $1.2879 UP $.0218
NEWS
rude-oil futures ended lower Thursday as investors were unable to shake off worries about growing global supply.
Nymex West Texas Intermediate crude for January delivery the most active contract, fell 23 cents to settle at $41.72 a barrel. Front-month December WTI futures fell 21 cents, or 0.5%, to close at $40.54 a barrel. WTI is the U.S. benchmark. ICE January Brent futures the international benchmark, rose 4 cents, or 0.1%, to end at $44.18 a barrel. December WTI futures briefly dipped below $40 a barrel on Wednesday after a bearish weekly report on crude inventories, but bounced back to finish in positive territory after minutes from the Federal Reserve’s October meeting spurred a rally in stocks. For bullish analysts, the action was a sign that the market might be near a bottom. “The failure of December to follow through lower after the test below $40.00 and the expectation that refinery runs and demand will price up, could create a case that we hit the bottom,” said Phil Flynn, senior market analyst at Price Futures Group, in a note. “Still in the short term it will be hard to muster a major rally with the dollar strength and the oversupply but if you look out to say the December 2016 market, you are probably getting historically cheap prices.” Flynn argues that the slump in oil prices is stoking demand. Meanwhile, cuts in capital spending by oil producers should also begin to help alleviate a global supply glut, he said.
December natural gas futures briefly rebounded from early weakness after a smaller-than-expected increase in storage, but soon faltered. The contract ended down 7.1 cents, or 3%, at $2.276 per million British thermal units. The Energy Information Administration on Thursday said working gas in underground storage rose by 15 billion cubic feet in the week ended Nov. 13 to a record 4 trillion cubic feet. Analysts surveyed by oil-data firm Platts had forecast an increase between 17 billion and 21 billion cubic feet. Natural gas futures have hovered around $2.35 for nearly three weeks as traders balanced record storage and robust production levels against the risk of increased seasonal demand, wrote analysts at Tradition Energy.
Forecasts for above-normal temperatures across the primary gas-consuming regions of the country though much of the remainder of 2015 could provide resistance to rising gas prices in coming weeks, they said.