Fueling Strategy: Please partial fill only today/tonight – Friday AM wholesale prices will drop over 2 cents – Be Safe!
NYMEX Crude $ 44.91 UP $.4300
NY Harbor ULSD $1.5237 UP $.0181
NYMEX Gasoline $1.3692 DN $.0164
NEWS
Oil futures ended higher Thursday, scoring their first gain in three sessions after finding some support from a weaker U.S. dollar and expectations that low prices will soon prompt a sizable decline in production.
The global glut of crude supplies and uncertainty surrounding demand on the back of a slowdown in the Chinese economy kept a cap on any gains for oil, however. Natural-gas prices, reversed course to settle higher despite a hefty increase in weekly U.S. natural-gas supplies.
November West Texas Intermediate crude rose 43 cents, or 1%, to settle at $44.91 a barrel on the New York Mercantile Exchange. November Brent crude on London’s ICE Futures exchange added 42 cents, or 0.9%, to $48.17 a barrel. Oil found some support from a weaker U.S. dollar “as well as from short-term oversold conditions,” said Jason Rotman, president of Lido Isle Advisors. The dollar index fell after data showed that U.S. weekly jobless claims inched higher and durable-goods orders declined in August. There were bearish factors in Wednesday’s U.S. petroleum-supply report, but also very bullish factors,” Rotman said. “We would not be surprised to see oil try to test the $50 level soon. We think the bottom for 2015 has been put in.” An Energy Information Administration report on Wednesday revealed a weekly fall in crude supplies along with an increase in total domestic oil production.