Fueling Strategy: Please “KEEP YOUR TANKS TOPPED TODAY/TONIGHT” ahead of Saturday’s price JUMP UP of 2.5 Cents ~ Be Safe Today!
NYEX Crude $ 71.95 UP $1.0400
NYMEX ULSD $2.1720 UP $0.0245
NYMEX Gas $2.0600 UP $0.0493
NEWS
Oct WTI crude oil Thursday closed up +1.04 (+1.47%), and Oct RBOB gasoline closed up +4.93 (+2.45%).
Crude oil and gasoline prices rallied to 2-week highs on Thursday and settled moderately higher. Crude rose Thursday after the Fed’s aggressive 50 bp interest rate cut on Wednesday sparked risk-on sentiment in asset markets. Crude oil prices are also moving higher in the hope that the Fed’s aggressive rate cut will spur economic growth that boosts energy demand. In addition, Thursday’s rally in the S&P 500 to a new record high shows optimism in the economic outlook that is bullish for energy demand.
Concerns that conflict in the Middle East may widen and disrupt the region’s crude supplies is bullish for crude. Israeli Defense Minister Gallant announced a “new phase” in the war with regional Islamist groups as Israel moved troops toward the Lebanon border, raising fears about a wider conflict that could involve Iran, a major oil producer.
Have a Great Day!
Loren R Bailey, President
Office: 479-846-2761
Cell: 479-790-5581
SCHEDULED OUT OF OFFICE
Sep 20 – Out of Office after 15:00
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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!
“Celebrating 31-years of Service Excellence”
“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success” ~ Henry Ford