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Fueling Strategy: Please “KEEP YOUR TANKS TOPPED” tonight, Thursday prices will JUMP UP 11.5 cents ~Be Safe

 

NMEX Crude      $ 87.54 UP $.8500

NYMEX ULSD     $3.1927 DN $.0269

NYMEX Gas       $2.6014 UP $.0204

NEWS

Oil prices rose a dollar a barrel on Tuesday to their highest since November, after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year, worrying investors about potential shortages during peak winter demand.

Brent crude futures rose by $1.04, or 1.2%, to settle at $90.04 a barrel, closing above the $90 mark for the first time since November 16, 2022. U.S. West Texas Intermediate crude (WTI) futures gained $.85, or 1.0%, to settle at $87.54 a barrel, also a 10-month high.

Investors had expected Saudi Arabia and Russia to extend voluntary cuts into October, but the three-month extension was unexpected. “This is a clear indication that oil prices trump volume (for Saudi Arabia),” said Jorge Leon, senior vice president at Rystad Energy. “These bullish moves significantly tighten the global oil market and can only result in one thing: higher oil prices worldwide,” Leon added. Both Saudi Arabia and Russia said they would review the supply cuts monthly, and could modify them depending on market conditions. “With the production cut extended, we anticipate a market deficit of more than 1.5 million barrels per day in 4Q23,” UBS analyst Giovanni Staunovo wrote in a note to clients. UBS now expects Brent crude to rise to $95 a barrel by year-end.

Reflecting concerns about the short-term market supply, front month Brent and WTI contracts were also trading at their steepest premium since November to later-dated prices. This structure, called backwardation, indicates tightening supply for prompt deliveries. Also supporting oil prices on Tuesday, Goldman Sachs said it now sees the probability of a U.S. recession starting in the next 12 months at 15%, down from an earlier forecast of 20%. Along with the Saudi supply cuts, which began in July, prospects of the U.S. economy avoiding a hard recession have helped lift oil demand and prices in recent months.

Both Brent and WTI futures have gained more than 20% since the end of June.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

 

SCHEDULED OUT OF OFFICE

SEP 08 AFTER 15:00

SEP 14 AFTER 14:00

SEP 22 AFTER 14:00

 

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 30-years of Service Excellence”

www.FuelManagerServices.com

 

“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” ~ Douglas Adams

Fueling Strategy: Please “FUEL AS NEEDED” today/tonight, Be Safe

NMEX Crude      $ 86.69 UP $1.1400

NYMEX ULSD     $3.2196 UP $0.1146

NYMEX Gas       $2.5810 DN $0.0102

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

 

SCHEDULED OUT OF OFFICE

SEP 05 AFTER 14:00

SEP 08 AFTER 15:00

SEP 14 AFTER 14:00

SEP 22 AFTER 14:00

 

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 30-years of Service Excellence”

www.FuelManagerServices.com

 

“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” ~ Douglas Adams

October WTI crude oil this morning is up +2.18 (+2.55%), and Oct RBOB gasoline is up +5.96 (+2.33%).

 

Crude oil prices this morning are rallying, with crude climbing to a 9-1/2 month high and gasoline posting a 1-week high.  The main bullish factor today was the action by Saudi Arabia and Russia to announce they will extend their crude production cuts until the end of the year.   A bearish factor for energy prices is today’s rally in the dollar index to a 5-1/2 month high.

Crude prices rallied today after Saudi Arabia said it would maintain its unilateral crude production cut of 1.0 million bpd through December.  The move will hold Saudi Arabia’s crude output at about 9 million bpd, the lowest level in three years.  Crude prices extended their gains today after Russia announced it would also maintain its 300,000 bpd cut in crude production through December.

Global economic news today shows a weakness in growth that is bearish for energy demand and crude prices.  U.S. July factory orders fell -2.1% m/m, the biggest decline in 8 months.   Also, the China Aug Caixin services PMI fell -2.3 to an 8-month low of  51.8, weaker than expectations of 53.5.  In addition, the Eurozone Aug S&P composite PMI was revised downward by -0.3 to 46.7 from the previously reported 47.0, the steepest pace of contraction in 2-3/4 years.

An increase in Iranian crude exports is boosting global supplies and is bearish for oil prices.  According to TankerTrackers.com, Iranian crude exports rose to a 5-year high of 2.2 million bpd during the first 20 days of August, with most of the crude going to China.

A negative factor for crude prices is the progress made in Iran-U.S. relations that could lead to higher crude exports from Iran after Iran said the recent deal with the U.S. on the release of prisoners and frozen Iranian funds could lead to diplomacy in other areas, including its nuclear program.  An agreement on Iran’s nuclear program could eventually prompt the U.S. and its allies to remove sanctions on Iranian crude exports, boosting global crude supplies.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

 

SCHEDULED OUT OF OFFICE

SEP 05 AFTER 14:00

SEP 08 AFTER 15:00

SEP 14 AFTER 14:00

SEP 22 AFTER 14:00

 

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 30-years of Service Excellence”

www.FuelManagerServices.com

 

“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” ~ Douglas Adams

Fueling Strategy: Please “KEEP YOUR TANKS TOPPED” today/tonight, Saturday prices will jump back UP 4 cents~Be Safe

NMEX Crude      $ 85.55 UP $1.9200

NYMEX ULSD     $3.1050 DN $0.0081

NYMEX Gas       $2.5912 UP $0.0253

Have a Great Day,
Loren R Bailey, President
Office: 479-846-2761
Cell: 479-790-5581
SCHEDULED OUT OF OFFICE
SEP 05 AFTER 14:00
SEP 08 AFTER 15:00
SEP 14 AFTER 14:00
SEP 22 AFTER 14:00
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 30-years of Service Excellence”

 
“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” ~ Douglas Adams
Tropical Storm Idalia is now making its way off the coast of South Carolina and into the Atlantic. At this time, most of our locations in the impacted areas are open and fueling. Our teams are working to restore service to impacted stores as quickly and safely as possible to help professional drivers and emergency crews mobilize for recovery and relief efforts.

See below for an update on our operations.

Store Operations:

The following locations are now open:

  • Pilot #500 – Jasper, FL
  • Flying J #631 – Lake Park, GA
  • Pilot Dealer #1058 – Waldo, FL
  • Pilot #4576 – St. George, SC
  • One9 Dealer #1403 – Waldo, FL

​​​​​​​

The following locations remain temporarily closed:
  • Pilot #575 – St. Mary’s, GA
  • Pilot #4561 – Valdosta, GA

​​​​​​​​​​​​​​

All other stores in the region are currently open and will remain open as long as it is safe to operate.
Supply Conditions:

Currently, there are no supply concerns in the impacted regions. Our logistics and transportation teams worked hard to prepare for the storm and build up an adequate supply in the region.

Important Information:

Pilot Flying J:

National:

Florida:

Georgia:

South Carolina:

North Carolina:​​​​​​​

Fueling Strategy: Please “PARTIAL FILL ONLY” today/tonight, Friday prices will drop 11 cents, Saturday diesel will jump back UP 4 cents~Be Safe

NMEX Crude      $ 83.63 UP $2.0000

NYMEX ULSD     $3.1426 UP $0.0464

NYMEX Gas       $2.7664 DN $0.0428

NEWS

October WTI crude oil on Thursday closed +2.00 (+2.45%), and Oct RBOB gasoline closed down -0.12 (-0.05%).

Crude oil prices rallied on a report that Russia has agreed with OPEC+ on further output restrictions.  Bloomberg News reported that Russia will announce next week that it has agreed with OPEC+ on further cuts in its oil exports into October.  Russia has already announced a cut of 300,000 bpd of output cuts for September.

Crude oil prices have continued support from Wednesday’s news that weekly EIA crude inventories fell more than expected to an 8-month low.

An increase in Iranian crude exports is boosting global supplies and is bearish for oil prices.  According to TankerTrackers.com, Iranian crude exports rose to a 5-year high of 2.2 million bpd during the first 20 days of August, with most of the crude going to China.

A negative factor for crude prices is the progress made in Iran-U.S. relations that could lead to higher crude exports from Iran after Iran said the recent deal with the U.S. on the release of prisoners and frozen Iranian funds could lead to diplomacy in other areas, including its nuclear program.  An agreement on Iran’s nuclear program could eventually prompt the U.S. and its allies to remove sanctions on Iranian crude exports, boosting global crude supplies.

In a bearish factor, China’s July crude imports fell -19% m/m to 10.33 million bpd, the smallest volume in 6 months.  Also, Vortexa said China’s onshore crude inventories have expanded to a record 1.02 billion bbl as of July 27.

A decline in crude demand in India, the world’s third-biggest crude consumer, is bearish for oil prices.  India’s July crude oil imports fell -6.3% y/y to 19.3 MMT, the lowest in 8 months.

Crude prices have carryover support from earlier this month when Saudi Arabia and Russia said they would extend their crude production cuts.  Saudi Arabia said it will extend its 1 million bpd cut in crude production into September and said its crude output may “be extended, or extended and deepened.”  The cut in Saudi production keeps its crude output at about 9 million bpd, the lowest level in several years.  Meanwhile, Russian Deputy Prime Minister Novak said Russia “will continue to voluntarily reduce its oil supply in September by 300,000 bpd” to balance the market.  Russia cut its crude output by 500,000 bpd in August.  OPEC crude production in July fell -900,000 bpd to a 1-3/4 year low of 27.79 million bpd.

A bullish factor for crude oil is a decline in Russian crude shipments.  Vessel-tracking data monitored by Bloomberg showed Russian crude oil shipments in the four weeks to Aug 18 dropped to 2.29 million bpd, the lowest daily average in ten months.

A decline in crude in floating storage is bullish for prices.  Monday’s weekly data from Vortexa showed that the amount of crude oil held worldwide on tankers that have been stationary for at least a week fell -23% w/w to 82.34 million bbl as of Aug 25.

Wednesday’s weekly EIA report was mixed for crude.  On the negative side, EIA gasoline supplies fell -214,000 bbl, a smaller draw than expectations of -1.25 million bbl.  Also, EIA distillate stockpiles unexpectedly rose +1.2 million bbl versus expectations of a -1.0 million bbl draw.  On the positive side, EIA crude inventories fell -10.58 million bbl to an 8-month low, a bigger draw than expectations of -2.19 million bbl.  Also, crude supplies at Cushing, the delivery point of WTI futures, fell -1.5 million bbl to a 7-1/2 month low.

Wednesday’s weekly EIA report showed that (1) U.S. crude oil inventories as of Aug 25 were -3.5% below the seasonal 5-year average, (2) gasoline inventories were -5.0% below the seasonal 5-year average, and (3) distillate inventories were -15.2% below the 5-year seasonal average.  U.S. crude oil production in the week ended Aug 25 was unchanged w/w at 12.8 million bpd, the most in over three years.  U.S. crude oil production is modestly below the Feb-2020 record-high of 13.1 million bpd.

Baker Hughes reported last Friday that active U.S. oil rigs in the week ended Aug 25 fell by -8 to a 17-month low of 512 rigs.  That is well below the 3-1/4 year high of 627 rigs posted on Dec 2, 2022.  Still, U.S. active oil rigs are more than triple the 18-year low of 172 rigs seen in Aug 2020, signaling an increase in U.S. crude oil production capacity from pandemic lows.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

 

SCHEDULED OUT OF OFFICE

SEP 01 ALL DAY

SEP 05 AFTER 14:00

SEP 08 AFTER 15:00

SEP 14 AFTER 14:00

SEP 22 AFTER 14:00

 

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 30-years of Service Excellence”

www.FuelManagerServices.com

 

“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” ~ Douglas Adams

Fueling Strategy: Please “KEEP YOUR TANKS TOPPED” today/tonight, Today (Wednesday) prices are down 10.5 cents, Thursday prices will JUMP back UP 2.5 cents so please ‘PARTIAL FILL ONLY” due to Friday Diesel will DROP over 11 Cents ~Be Safe

NMEX Crude      $ 81.63 UP $.4700

NYMEX ULSD     $3.0962 DN $.1133

NYMEX Gas       $2.8092 UP $.0187

NEWS

October WTI crude oil on Wednesday closed up +0.47 (+0.58%), and Oct RBOB gasoline closed up +1.06 (+0.41%).

Crude oil and gasoline prices Wednesday posted moderate gains, with crude climbing to a 2-week high.  A slump in the dollar index Wednesday to a 2-week low was bullish for energy prices.  Crude jumped to its high after weekly EIA crude inventories fell more than expected to an 8-month low.  Gains in crude were limited after Wednesday’s weaker-than-expected U.S. economic news raised concerns that the U.S. economy was slowing, a bearish factor for energy demand.

Wednesday’s U.S. economic news signals weakness in the economy that is negative for energy demand and crude prices.   The Aug ADP employment change rose +177,000, weaker than expectations of +195,000 and the smallest increase in 5 months.  Also, Q2 GDP was revised downward to 2.1% (q/q annualized) from 2.4%.  On the positive side,  July pending home sales unexpectedly rose +0.9% m/m, stronger than expectations of a -1.0% m/m decline.

Weakness in the crude crack spread is bearish for crude prices.  The crack spread Wednesday fell to a 1-1/2 month low, discouraging refiners from purchasing crude oil and refining it into gasoline and distillates.

A bearish factor for crude was a Bloomberg report that said the Biden administration is in talks with Venezuela to explore a temporary lifting of U.S. sanctions against Venezuela in exchange for allowing fair elections next year.  Lifting U.S. sanctions would allow crude exports from Venezuela into the global market, boosting supplies.

An increase in Iranian crude exports is boosting global supplies and is bearish for oil prices.  According to TankerTrackers.com, which provides data on oil cargo shipments to governments, Iranian crude exports rose to a 5-year high of 2.2 million bpd during the first 20 days of August, with most of the crude going to China.

A negative factor for crude prices is the progress made in Iran-U.S. relations that could lead to higher crude exports from Iran after Iran said the recent deal with the U.S. on the release of prisoners and frozen Iranian funds could lead to diplomacy in other areas, including its nuclear program.  An agreement on Iran’s nuclear program could prompt the U.S. and its allies to remove sanctions on Iranian crude exports, boosting global crude supplies.

In a bearish factor, China’s July crude imports fell -19% m/m to 10.33 million bpd, the smallest volume in 6 months.  Also, Vortexa said China’s onshore crude inventories have expanded to a record 1.02 billion bbl as of July 27.

A decline in crude demand in India, the world’s third-biggest crude consumer, is bearish for oil prices.  India’s July crude oil imports fell -6.3% y/y to 19.3 MMT, the lowest in 8 months.

Crude has support from concerns that Ukraine could retaliate against Russian ships in the Black Sea if Russia continued to block Ukrainian ports.   Ukrainian drones on Aug 6 attacked a Russian oil tanker in the Black Sea, a route that accounts for 20% of the oil that Russia sells daily on global markets.

Crude prices have carryover support from earlier this month when Saudi Arabia and Russia said they would extend their crude production cuts.  Saudi Arabia said it will extend its 1 million bpd cut in crude production into September and said its crude output may “be extended, or extended and deepened.”  The cut in Saudi production keeps its crude output at about 9 million bpd, the lowest level in several years.  Meanwhile, Russian Deputy Prime Minister Novak said Russia “will continue to voluntarily reduce its oil supply in September by 300,000 bpd” to balance the market.  Russia cut its crude output by 500,000 bpd in August.

OPEC crude production in July fell -900,000 bpd to a 1-3/4 year low of 27.79 million bpd.

A bullish factor for crude oil is a decline in Russian crude shipments.  Vessel-tracking data monitored by Bloomberg showed Russian crude oil shipments in the four weeks to Aug 18 dropped to 2.29 million bpd, the lowest daily average in ten months.

A decline in crude in floating storage is bullish for prices.  Monday’s weekly data from Vortexa showed that the amount of crude oil held worldwide on tankers that have been stationary for at least a week fell -23% w/w to 82.34 million bbl as of Aug 25.

Wednesday’s weekly EIA report was mixed for crude.  On the negative side, EIA gasoline supplies fell -214,000 bbl, a smaller draw than expectations of -1.25 million bbl.  Also, EIA distillate stockpiles unexpectedly rose +1.2 million bbl versus expectations of a -1.0 million bbl draw.  On the positive side, EIA crude inventories fell -10.58 million bbl to an 8-month low, a bigger draw than expectations of -2.19 million bbl.  Also, crude supplies at Cushing, the delivery point of WTI futures, fell -1.5 million bbl to a 7-1/2 month low.

Wednesday’s weekly EIA report showed that (1) U.S. crude oil inventories as of Aug 25 were -3.5% below the seasonal 5-year average, (2) gasoline inventories were -5.0% below the seasonal 5-year average, and (3) distillate inventories were -15.2% below the 5-year seasonal average.  U.S. crude oil production in the week ended Aug 25 was unchanged w/w at 12.8 million bpd, the most in over three years.  U.S. crude oil production is modestly below the Feb-2020 record-high of 13.1 million bpd.

Baker Hughes reported last Friday that active U.S. oil rigs in the week ended Aug 25 fell by -8 to a 17-month low of 512 rigs.  That is well below the 3-1/4 year high of 627 rigs posted on Dec 2, 2022.  Still, U.S. active oil rigs are more than triple the 18-year low of 172 rigs seen in Aug 2020, signaling an increase in U.S. crude oil production capacity from pandemic lows.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

 

SCHEDULED OUT OF OFFICE

SEP 01 ALL DAY

SEP 05 AFTER 14:00

SEP 08 AFTER 15:00

SEP 14 AFTER 14:00

SEP 22 AFTER 14:00

 

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 30-years of Service Excellence”

www.FuelManagerServices.com

 

“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” ~ Douglas Adams

Fueling Strategy: Please “PARTIAL FILL ONLY” today/tonight, Wednesday look for prices to DROP 10.5 cents  ~Be Safe

NMEX Crude      $ 81.16 UP $1.0600

NYMEX ULSD     $3.2095 UP $0.0058

NYMEX Gas       $2.7905 DN $0.0052

NEWS

October WTI crude oil on Tuesday closed up +1.06 (+1.32%), and Oct RBOB gasoline closed down -1.04 (-0.41%).

Crude oil and gasoline prices on Tuesday settled mixed, with crude climbing to a 1-week high.  A weaker dollar Tuesday was supportive of energy prices.  Also, actions by China to restore confidence in its economy may boost growth and energy demand and are bullish for crude after its largest state-owned banks are preparing to cut interest rates on trillions of yuan of outstanding home mortgages for the first time since the global financial crisis.  Gains in crude were limited after weaker-than-expected U.S. economic news on July JOLTS openings and August consumer confidence signaled economic weakness that is bearish for energy demand.

Gasoline prices Tuesday were under pressure for a second day as supply concerns eased after Marathon Petroleum said it plans to return the Garyville refinery in Louisiana to normal operations.  The Garyville refinery, the third largest U.S. refinery that can process 596,000 bpd of crude, was shut since last Friday because of a fire.

Tuesday’s U.S. economic news signals weakness in the economy that is negative for energy demand and crude prices.   The July JOLTS job openings fell -338,000 to a nearly 2-1/2 year low of 8.827 million, weaker than expectations of 9.500 million.  Also, the Conference Board U.S. Aug consumer confidence index fell -7.9 to 106.1, weaker than expectations of 116.0.

Weakness in the crude crack spread is bearish for crude prices.  The crack spread fell to a 6-week low Tuesday, discouraging refiners from purchasing crude oil and refining it into gasoline and distillates.

A bearish factor for crude was a Bloomberg report that said the Biden administration is in talks with Venezuela to explore a temporary lifting of U.S. sanctions against Venezuela in exchange for allowing fair elections next year.  Lifting U.S. sanctions would allow crude exports from Venezuela into the global market, boosting supplies.

An increase in Iranian crude exports is boosting global supplies and is bearish for oil prices.  According to TankerTrackers.com, which provides data on oil cargo shipments to governments, Iranian crude exports rose to a 5-year high of 2.2 million bpd during the first 20 days of August, with most of the crude going to China.

A negative factor for crude prices is the progress made in Iran-U.S. relations that could lead to higher crude exports from Iran after Iran said the recent deal with the U.S. on the release of prisoners and frozen Iranian funds could lead to diplomacy in other areas, including its nuclear program.  An agreement on Iran’s nuclear program could prompt the U.S. and its allies to remove sanctions on Iranian crude exports, boosting global crude supplies.

In a bearish factor, China’s July crude imports fell -19% m/m to 10.33 million bpd, the smallest volume in 6 months.  Also, Vortexa said China’s onshore crude inventories have expanded to a record 1.02 billion bbl as of July 27.

A decline in crude demand in India, the world’s third-biggest crude consumer, is bearish for oil prices.  India’s July crude oil imports fell -6.3% y/y to 19.3 MMT, the lowest in 8 months.

Crude has support from concerns that Ukraine could retaliate against Russian ships in the Black Sea if Russia continued to block Ukrainian ports.   Ukrainian drones on Aug 6 attacked a Russian oil tanker in the Black Sea, a route that accounts for 20% of the oil that Russia sells daily on global markets.

Crude prices have carryover support from earlier this month when Saudi Arabia and Russia said they would extend their crude production cuts.  Saudi Arabia said it will extend its 1 million bpd cut in crude production into September and said its crude output may “be extended, or extended and deepened.”  The cut in Saudi production keeps its crude output at about 9 million bpd, the lowest level in several years.  Meanwhile, Russian Deputy Prime Minister Novak said Russia “will continue to voluntarily reduce its oil supply in September by 300,000 bpd” to balance the market.  Russia cut its crude output by 500,000 bpd in August.

OPEC crude production in July fell -900,000 bpd to a 1-3/4 year low of 27.79 million bpd.

A bullish factor for crude oil is a decline in Russian crude shipments.  Vessel-tracking data monitored by Bloomberg showed Russian crude oil shipments in the four weeks to Aug 18 dropped to 2.29 million bpd, the lowest daily average in ten months.

A decline in crude in floating storage is bullish for prices.  Monday’s weekly data from Vortexa showed that the amount of crude oil held worldwide on tankers that have been stationary for at least a week fell -23% w/w to 82.34 million bbl as of Aug 25.

The consensus is for Wednesday’s weekly EIA crude inventories to fall by -2.19 million bbl.

Last Wednesday’s weekly EIA report showed that (1) U.S. crude oil inventories as of Aug 18 were -2.2% below the seasonal 5-year average, (2) gasoline inventories were -5.9% below the seasonal 5-year average, and (3) distillate inventories were -16.2% below the 5-year seasonal average.  U.S. crude oil production in the week ended Aug 18 rose +0.8% w/w to 12.8 million bpd, the most in over three years.  U.S. crude oil production is modestly below the Feb-2020 record-high of 13.1 million bpd.

Baker Hughes reported last Friday that active U.S. oil rigs in the week ended Aug 25 fell by -8 to a 17-month low of 512 rigs.  That is well below the 3-1/4 year high of 627 rigs posted on Dec 2, 2022.  Still, U.S. active oil rigs are more than triple the 18-year low of 172 rigs seen in Aug 2020, signaling an increase in U.S. crude oil production capacity from pandemic lows.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

 

SCHEDULED OUT OF OFFICE

SEP 01 ALL DAY

SEP 05 AFTER 14:00

SEP 08 AFTER 15:00

SEP 14 AFTER 14:00

SEP 22 AFTER 14:00

 

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 30-years of Service Excellence”

www.FuelManagerServices.com

 

“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” ~ Douglas Adams

Severe Weather Fuel & Location Updates

Updated August 29, 2023 3:00pm CT

Love’s teams are monitoring the latest developments as Hurricane Idalia is expected to make landfall along the Gulf Coast of Florida early Wednesday, Aug. 30. We are taking precautions and increasing fuel and food deliveries to stay stocked. Our stores are prepared to safely serve customers as long as possible. We will provide regular updates on loves.com/weather and Love’s Connect app.

If business interruptions occur, including closures, Love’s will note which locations are affected on this page.

To Our Valued Customers,

Idalia has intensified into a Category 1 hurricane and has now slightly shifted more Northwest towards Northern Florida and South Georgia.  Landfall is still expected early Wednesday morning as a Category 3 hurricane.  We have initiated Pilot’s Emergency Response Team and are having daily calls to track the storm and guide our operations.

For the latest information on our store operations, please visit this link:  https://pilotflyingj.com/operational-updates.

Pilot’s Logistics Team has been working to build up inventory levels and our fleet of drivers are positioned to help prevent any service interruptions.  We believe we have ample supply in the impacted areas to keep your drivers and fleet fueled.

All of our stores in the region are currently open and will remain open as long as it is safe for our team members to serve your drivers, emergency personnel and the community.

Please reach out to me if you have any questions.

Best,

Ethon

Ethon​ Stanford
VP, National Accounts
[email protected]
cell: (615) 202-7172 | office: (865) 474‑2827
efax: (865) 297-9566
5508 Lonas Drive / Knoxville, TN 37909
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