Fueling Strategy: Please “KEEP YOUR TANKS TOPPED TODAY/TONIGHT”, Make sure you’re completely full of fuel by 23:00 CST tonight! – Today prices are up 1/2 Cents but will continue goingUp 5.5 Cents Friday~ Be Safe Today!

NYEX Crude      $  68.61 UP $1.4000

NYMEX ULSD     $2.1876 UP $0.0539

NYMEX Gas       $1.9957 UP $0.0439

NEWS

The December WTI trading session settled at 68.61 +1.40, had a high of 69.17, a low of 67.28. Cash price is at 67.17 (-0.18), while open interest for CLZ24 is at 354,114. CLZ settled below its 5 day (69.10), below its 20 day (71.44), below its 50 day (70.28), below its100 day (73.21) and below its 200 day (74.30) moving-averages. The COT report (Futures and Options Summary) as of 10/22 showed commercials with a net short position of -229,875 (a decrease in short positions by +16,937 compared to last week) to non-commercials who are net long +203,990 (a decrease in long positions by -9,230 compared to last week).

Reuters, citing unnamed sources, reported that OPEC+ could delay their plans to increase oil production by 180,000 barrels per day starting in December. OPEC+ is scheduled to have their next meeting on December 1st.Today’s EIA weekly petroleum status report showed crude inventories having a draw of -515,000 barrels, against a +1.37m/b build forecast. U.S. crude imports averaged 6 million barrels per day last week, a decrease of -456,000 barrels over the prior week. U.S. crude refineries were operating at 89.1% capacity. U.S. crude oil inventories are roughly ~4% below their five year seasonal average. The Cushing hub saw a +681,000 barrel build. Tuesday’s API report showed a decline in crude stocks by 573,000 barrels. Yesterday the U.S. Energy Department announced plans for adding 3 million barrels to the Strategic Petroleum Reserve through May of next year. Today’s U.S. GDP number covering the July through September quarter came in at 2.8%, slightly weaker than the previous 3% that covered the April through June quarter.

Reuters reported yesterday that China is considering the issuance of roughly $1.4 trillion in extra debt over the next few years. The newest stimulus package in a recent line of stimulus packages aiming to revive their staggering economy.  China’s parliament is set to hold a major policy meeting the first week of November, conveniently timed up with the U.S. election. Sources told Reuters they expect further stimulus packages to be added by China if Donald Trump is elected to President next week, citing trade-war and tariff concerns. The Shanghai CSI 300 Index closed 0.90% lower today.

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

Nov 08th Out of Office at 13:00

Tell Us How We’re Doing On Google Business

https://g.page/r/CUyL9wDolv04EAI/review

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”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford

Fueling Strategy: Please “KEEP YOUR TANKS TOPPED TODAY/TONIGHT” – Today prices are DN 11 Cents but will go back up 1/2 cent Thursday – Be Safe Today

NYEX Crude      $  67.21 DN $.1700

NYMEX ULSD     $2.1337 UP $.0054

NYMEX Gas       $1.9518 DN $.0146

NEWS

Oil prices closed slightly lower on Tuesday, adding to a more than 6% drop in the previous session, on a report that Israeli Prime Minister Benjamin Netanyahu will hold a meeting for a diplomatic solution to the war in Lebanon. Brent crude futures settled down 30 cents, or 0.4%, at $71.12 a barrel, while U.S. West Texas Intermediate crude shed 17 cents, or 0.3%, to $67.21 a barrel. The two benchmarks had gained more than $1 a barrel earlier in the session. Both contracts fell on Monday to their lowest levels since Oct. 1 after Israel’s relalatory strike on Iran at the weekend bypassed Tehran’s oil infrastructure. Netanyahu will hold a meeting on Tuesday evening with Israeli ministers and the heads of the country’s military and intelligence community about talks for a diplomatic solution to the war in Lebanon, Axios reporter Barak Ravid said on X, citing two sources. Iranian Foreign Ministry spokesperson Esmaeil Baghaei said on Monday that Iran will “use all available tools” to respond to Israel’s weekend attack.

Meanwhile, declining oil demand from China, the world’s largest crude oil importer, remains a drag on global oil consumption and prices. Demand will return to normal growth rates after Chinese President Xi Jinping introduces new stimulus measures to the economy, BP CEO Murray Auchincloss told Reuters.

The oil market is currently balanced and demand is expected to average 104.5 million barrels per day this year, the CEO of Saudi Arabian oil giant Saudi Aramco said. “Markets tried to stage a modest recovery but continue to be under pressure from lackluster demand from China and worries about increasing supply,” said Andrew Lipow, president of Lipow Oil Associates.

U.S. crude oil stocks fell by 573,000 barrels in the week ended Oct. 25, market sources said, citing American Petroleum Institute figures on Tuesday. Gasoline inventories fell by 282,000 barrels and distillate stocks fell by 1.46 million barrels, they said. U.S. government data is expected on Wednesday this morning. Crude oil and gasoline stockpiles in the U.S. were expected to have risen last week, while distillate inventories were expected to have fallen, a preliminary Reuters poll showed on Monday.

Meanwhile, the U.S. Federal Reserve will cut interest rates by 25 basis points on Nov. 7, according to all 111 economists in a Reuters poll, with more than a 90% majority predicting another quarter-percentage-point move in December. Lower interest rates cut the cost of borrowing, which can spur economic activity and boost demand for oil.

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

Nov 08th Out of Office at 13:00

Tell Us How We’re Doing On Google Business

https://g.page/r/CUyL9wDolv04EAI/review

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”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford

Fueling Strategy: Please “PARTIAL FILL ONLY or BETTER YET DON’T FUEL TODAY/TONIGHT”, Prices will DROP 11 Cents Wednesday ~Be Safe Today!

NYEX Crude      $  67.38 DN $4.4000

NYMEX ULSD     $2.1286 DN $0.1095

NYMEX Gas       $1.9664 DN $0.1121

NEWS

The December WTI settled at 67.38 DN $4.40 , had a high of 69.00, a low of 66.92. Cash price is at  71.77 (+1.59), while open interest for CLZ24 is at 336,548. CLZ settled below its 5 day (70.49), below its 20 day (71.61), below its 50 day (70.46), below its 100 day (73.32) and below its 200 day (74.33) moving-averages. The COT report (Futures and Options Summary) as of 10/22 showed commercials with a net short position of -229,875 (a decrease in short positions by +16,937 compared to last week) to non-commercials who are net long +203,990 (a decrease in long positions by -9,230 compared to last week). 

Crude prices cratered by over $4 after Israel’s attack on Iranian missile sites avoided crude and nuclear facilities, which was viewed as more restrained than many analysts and traders had anticipated. The limited strike has for now erased the war premium that had been factored into the market, dropping from its peak a few weeks ago and offsetting the roughly 4% gain in the benchmarks from last week. As a result, the market is returning to the lower demand, higher output conditions in place. This was the largest single daily decline for WTI since July of 2022.

Last week The Energy Information Administration (EIA) weekly report showed crude inventories rising by 5.5 million barrels, bringing a total inventory count to 426 million barrels, this was higher than analysts from Reuters forecast of a +270,000 barrel build. U.S. oil production was assessed to be at 13.5 million barrels per day. American imports averaged 6.4 million barrels per day, increasing by 902,000b/d. The American Petroleum Institute (API) data showed U.S. crude stocks building by 1.64 million barrels , above the Reuters forecast of +300,000 barrels. The Department of Energy reported a 5.47 million barrel increase, over a +800,000 forecast. The Cushing hub saw a draw of -346,000 barrels. U.S. crude refinery averaging 16.1 million barrels per day. U.S. inventories remain ~4% lower than the five year seasonal average. 

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

Nov 08th Out of Office at 13:00

Tell Us How We’re Doing On Google Business

https://g.page/r/CUyL9wDolv04EAI/review

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”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford

Fueling Strategy: Please “PARTIAL FILL ONLY or DON’T FUEL TODAY/TONIGHT IF POSSIBLE”, – Today prices are down 1.5 Cents but will DROP 2 Cents Saturday ~ Be Safe Today!

NYEX Crude      $  70.19 DN $.5800

NYMEX ULSD     $2.2023 DN $.0193

NYMEX Gas       $2.0277 DN $.0137

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

Nov 08th Out of Office at 13:00

Tell Us How We’re Doing On Google Business

https://g.page/r/CUyL9wDolv04EAI/review

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”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford

Fueling Strategy: Please “KEEP YOUR TANKS TOPPED TODAY/TONIGHT”, Make sure you’re completely full of fuel by 23:00 CST tonight! – Today prices are up 3 Cents but will continue going Up 5 Cents Thursday ~ Be Safe Today!

NYEX Crude      $  72.09 UP $1.5300

NYMEX ULSD     $2.2370 UP $0.0537

NYMEX Gas       $2.0715 UP $0.0568

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

Nov 08th Out of Office at 13:00

Tell Us How We’re Doing On Google Business

https://g.page/r/CUyL9wDolv04EAI/review

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”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford

Fueling Strategy: Please “PARTIAL FILL ONLY or DON’T FUEL TODAY/TONIGHT IF POSSIBLE”, – Today prices are up 5 Cents but will DROP 1.5 Cents Friday ~ Be Safe Today!

NYEX Crude      $  70.77 DN $.9700

NYMEX ULSD     $2.2216 DN $.0154

NYMEX Gas       $2.0414 DN $.0301

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

Nov 08th Out of Office at 13:00

Tell Us How We’re Doing On Google Business

https://g.page/r/CUyL9wDolv04EAI/review

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”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford

Fueling Strategy: Please “KEEP YOUR TANKS TOPPED TODAY/TONIGHT”, Make sure you’re completely full of fuel by 23:00 CST tonight! – Wednesday prices will go Up 3 Cents ~ Be Safe Today!

NYEX Crude      $  70.56 UP $1.3400

NYMEX ULSD     $2.1833 UP $0.0311

NYMEX Gas       $2.0147 DN $0.0127

NEWS

Oil prices settled nearly 2% higher on Monday, recouping some of last week’s more than 7% decline, with no letup of fighting in the Middle East and expected Israeli retaliation on Iran worrying markets about supply from the region. Brent crude futures were up $1.23, or 1.68%, at $74.29 a barrel, while U.S. West Texas Intermediate crude futures were $1.34, or 1.94% higher, at $70.56 a barrel. Brent settled more than 7% lower last week, while WTI lost around 8%. Those were the contracts’ biggest weekly declines since Sept. 2, due to slowing economic growth in China and falling risk premiums in the Middle East.

Israeli forces besieged hospitals and shelters for displaced people in the northern Gaza Strip on Monday, medics said, as they stepped up operations against Palestinian militants. Israel also carried out targeted strikes on sites belonging to Hezbollah’s financial arm in Lebanon. U.S. Secretary of State Antony Blinken will make another push for a ceasefire when he heads to the Middle East on Monday, the State Department said, seeking to kick-start negotiations to end the Gaza war and also defuse the spillover conflict in Lebanon. U.S. envoy Amos Hochstein will hold talks with Lebanese officials in Beirut on Monday on conditions for a ceasefire between Israel and Hezbollah, two sources told Reuters. “Crude futures getting a lift this morning as escalated fighting continues in Middle East… Israel is also preparing for more retaliatory attacks likely into Iran,” said Dennis Kissler, senior vice president of trading at BOK Financial.

China’s oil-demand growth is expected to remain weak in 2025 despite recent stimulus measures from Beijing as the world’s No. 2 economy electrifies its car fleet and grows at a slower pace, the head of the International Energy Agency said on Monday.

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

Nov 08th Out of Office at 13:00

Tell Us How We’re Doing On Google Business

https://g.page/r/CUyL9wDolv04EAI/review

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”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford

Fueling Strategy: Please “PLEASE MAKE SURE YOUR TANKS ARE FULL OF FUEL BEFORE 23:00 CST TONIGHT”, Prices are down 1.5 Cents Today BUT will go UP 2 Cents Saturday ~ Be Safe Today!

NYEX Crude      $  70.67 UP $.2800

NYMEX ULSD     $2.1945 UP $.0198

NYMEX Gas       $2.0468 UP $.0065

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

Oct 17 Out of Office at 11:00

Oct 18 Out of Office at 15:45

Nov 08th Out of Office at 13:00

Tell Us How We’re Doing On Google Business

https://g.page/r/CUyL9wDolv04EAI/review

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”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford

Fueling Strategy: Please “PARTIAL FILL ONLY TODAY/TONIGHT”, Prices are UP 2 Cents Today (Saturday) BUT will drop 4 Cents Sunday ~ Be Safe Today!

NYEX Crude      $  69.22 DN $1.4500

NYMEX ULSD     $2.1522 DN $0.0423

NYMEX Gas       $2.0020 DN $0.0448

NEWS

Oil futures fell on Friday, declining more than 7% on the week after data showed China’s economic growth slowed and investors digested a mixed Middle East outlook. Brent crude futures fell $1.39, or 1.87%, to $73.06 a barrel. U.S. West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or 2.05%. Brent settled more than 7% lower this week, while WTI lost around 8%, marking their biggest weekly declines since Sept. 2, when OPEC and the International Energy Agency cut their forecasts for global oil demand in 2024 and 2025.

In China, the world’s top oil importer, the economy grew at the slowest pace since early 2023 in the third quarter, though September consumption and industrial output beat forecasts. “China is key to the demand side of the equation so that is very much weighing on prices here today,” said John Kilduff, partner at Again Capital in New York. China’s refinery output declined for the sixth straight month as thin refining margins and weak fuel consumption curbed processing. “We cannot ignore the impact of electric vehicles in China,” said Neil Atkinson, Paris-based independent energy analyst and former head of the oil division at the IEA. “There are various factors at play here, economic weakness in China but also the move towards the electrification of transport.” Electric vehicle sales in China jumped 42% in August and reached a record high of over one million vehicles. 

Meanwhile, China’s central bank rolled out two funding schemes that will initially pump 800 billion yuan ($112.38 billion) into the stock market through newly created monetary policy tools. “Chinese data shows tentative signs of improvement, but recent briefings on additional economic stimulus left market participants underwhelmed,” said Rishi Rajanala, associate at Aegis Hedging.

U.S. President Joe Biden said on Friday there was an opportunity to deal with Israel and Iran in a way that potentially ends their conflict in the Middle East for a while. “We lost additional parts of the geopolitical risk premium in the price of oil on talks of this all reaching an end point,” said Again Capital’s Kilduff. Biden, on a visit to Berlin, also told reporters he has an understanding of how and when Israel will respond to the missile attacks by Iran, something investors continue to anxiously wait for, said Alex Hodes, analyst at energy brokerage StoneX, said in a note. After the killing of Hamas leader Yahya Sinwar, Lebanon’s Hezbollah militant group said on Friday it was moving to a new and escalating phase as it battles Israeli troops. This dashed hopes earlier on Friday that Sinwar’s death would speed up an end to escalating war in the Middle East.

In the U.S., crude production smashed another record last week, according to the Energy Information Administration on Thursday, as output rose by 100,000 barrels per day (bpd) in the week to Oct. 11 to 13.5 million bpd, from its previous peak of 13.4 million bpd first hit two months ago. Helping to give prices a floor, the EIA also said U.S. crude oil, gasoline and distillate inventories fell last week.

And U.S. retail sales increased slightly more than expected in September, with investors still pricing in a 92% chance of a Federal Reserve rate cut in November. “Positive U.S. economic data has helped alleviate some growth concerns, but market participants continue to monitor potential demand recovery in China following recent stimulus measures,” said Hani Abuagla, senior market analyst at XTB MENA.

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

Oct 18 Out of Office at 15:45

Nov 08th Out of Office at 13:00

Tell Us How We’re Doing On Google Business

https://g.page/r/CUyL9wDolv04EAI/review

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”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford

Fueling Strategy: Please “FUEL AS NEEDED TODAY/TONIGHT”, Prices are down 9 Cents Today BUT will drop another 1.5 Cents Friday ~ Be Safe Today!

NYEX Crude      $  70.39 DN $.1900

NYMEX ULSD     $2.1747 DN $.0130

NYMEX Gas       $2.0403 UP $.0026

NEWS

The Nov WTI trading session settled at 70.39 (-0.19), had a high of 70.99, a low of 7. Cash price is at 70.62 (-3.23), while open interest for CLX24 is at 137,889. CLX settled below its 5 day (73.24), below its 20 day (71.80), below its 50 day (71.79), and below its 200 day (74.93) moving-averages. The COT report (Futures and Options Summary) as of 10/8 showed commercials with a net short position of -252,853 (a increase in short positions by -36,955 compared to last week) to non-commercials who are net long 226,214 (a increase in long positions by +28,143 compared to last week). The December Open Interest is 288,989.

WTI and Brent took a breather in today’s session, settling nearly unchanged after the big sell off of the war premium that has all but gotten priced out over the last week. Oil prices were slammed yesterday after The Washington Post reported that Israel informed U.S. officials they would be targeting Iranian military facilities rather than nuclear or energy sites. Adding fuel to the bear’s fire the IEA lowered its global oil demand growth forecast for this year, attributing the adjustment to less demand from China. The IEA now projects an increase in world oil demand of 860,000 b\d, which is 40,000 b\d less than the IEA’s earlier estimate. Adding to the surplus in crude oil the IEA sees countries outside of OPEC+ increasing their output by ~1.5 million b\d next year. As we approach the heart of winter, Accuweather this morning raised the chances of a La Nina event bringing in colder forecasts to the Northern Hemisphere this year. 

API data was delayed a day and will be released tonight and tomorrow we’ll get fresh EIA numbers. On Saturday China’s Finance Minister Zheng Shanjie did not disclose any new incentives that would increase their oil consumption. Although he did leave the door open for more stimulus, by not announcing any specific new measures during that briefing it was not what bullish oil traders were hoping for. OPEC for the third consecutive month cut its global oil demand growth figure for 2024, and lowered its forecast for 2025 as well. In the first three quarters of 2024, China’s crude imports averaged 10.99 million b\d, a decrease of 2.8% compared to 11.34 million b\d during the same period in 2023. OPEC’s economic growth forecast for China remained unchanged, however China’s oil demand for next year was lowered from 650,000b\d to 580,000b\d. In a recent economic update the World Bank revised China’s growth rate to 4.3% for next year, which is lower than the 4.8% projected growth rate for this current year. The CSI 300 Index was down 0.63% today.

Settling below $72 again today signals to me we are heading into the mid $60’s – lower $70’s range we were in a month ago, with a new floor to break through around the $67 mark . I see support levels around $71.50-72.50 and resistance around $75 to the upside for the bulls. The market should continue being volatile and reactionary as we head into winter. In my own view I firmly believe there’s downward pressure facing crude prices in the mid to long term, with the largest thing weighing the crude markets down being lower global demand (specifically China), the transition from oil to electric powered energy and the cooling of economies worldwide

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

Oct 17 Out of Office at 10:30

Oct 18 Out of Office at 15:30

Nov 08th Out of Office at 13:00

Tell Us How We’re Doing On Google Business

https://g.page/r/CUyL9wDolv04EAI/review

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”

www.FuelManagerServices.com

“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success”  ~ Henry Ford