Fueling Strategy: Please KEEP your tanks topped tonight, Wednesday prices will go UP 2 cents but will fall $.0150 Thursday~Be Safe

NMEX Crude     $ 81.53 UP $1.7900

NYMEX ULSD    $2.6682 DN $0.0132

NYMEX Gas      $2.8652 UP $0.0573

NEWS

Oil rose above $81 a barrel, buoyed by general risk-on sentiment, as the first of a spate of supply-and-demand projections scheduled this week forecast a modest rise in US production.

Crude held its gains even after a US Energy Information Administration report Tuesday estimated supply will exceed demand in the next two years, despite the unexpected production cut by OPEC+.

The Organization of Petroleum Exporting Countries and the International Energy Agency also are scheduled to issue monthly reports later this week.

Despite the bearish government report, key market metrics are signaling renewed strength in the aftermath of OPEC+’s announced output cuts. The December-December spread — the difference between futures for the final month of this year and in 2024 — rallied to more than $5 a barrel, up from $2.53 three weeks ago.

“The oil market is going to remain tight and while China’s reopening has underwhelmed, they will do a lot better going forward and that should keep prices supported,” said Ed Moya, a senior market analyst at Oanda.

Russia’s seaborne oil exports collapsed last week, which could tighten markets further. Almost half a million barrels a day of crude supply from Iraq’s semi-autonomous Kurdistan region also remains halted, and there are signs more negotiations will be needed before those flows can resume.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE

MAY 04 & 05, 2023

JUNE 15 TO JUNE 18, 2023

JULY  22 TO JULY 30, 2023

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     $ 79.74 DN $.9600

NYMEX ULSD    $2.6814 UP $.0209

NYMEX Gas      $2.8054 DN $.0054

NEWS

Oil fell in a low-volume session, unable to withstand a rising US dollar while investors waited for upcoming supply constraints to hit the market.

Traders exited risk assets Monday, pausing a rally in which prices have risen roughly 20% in the last three weeks. OPEC+’s surprise decision to slash output beginning in May reignited bullish bets on prices, yet some demand indicators are flashing signs of weakness. “We’re waiting to see what’s really happening with the economy, but it is a slower recovery,” Ed Morse, global head of commodities research at Citigroup Inc., said in a Bloomberg Television interview. “It’s a services recovery. If anything, that will be an end-of-year phenomenon.”

Traders are awaiting insights this week into monthly outlooks from OPEC and the International Energy Agency as well as US inflation data and Federal Reserve minutes.  Separately, Turkey wants to negotiate payments it owes Iraq before a pipeline that exports 400,000 barrels a day is reopened, according to Turkish officials familiar with the situation. 

Russia’s Energy Ministry, meanwhile, said that the nation reduced its oil output by about 700,000 barrels a day last month, according to a person familiar with the data. Nevertheless, that figure is inconsistent with indicators on the nation’s March seaborne exports and supplies to domestic refineries.

Have a Great Day,

 Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE

MAY 04 & 05, 2023

JUNE 15 TO JUNE 18, 2023

JULY  22 TO JULY 30, 2023

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 before 23:00 CST have tanks completely full, Friday prices will go UP 7 cents then Saturday prices will fall 7 cents~Be Safe

NMEX Crude     $ 80.70 UP $.0900

NYMEX ULSD    $2.6605 DN $.0705

NYMEX Gas      $2.8133 DN $.0068

NEWS

May WTI crude oil on Thursday closed up +0.09 (+0.11%), and May RBOB gasoline closed down -0.68 (-0.24%).

Crude oil and gasoline prices Thursday settled mixed.  A weaker dollar Thursday and the outlook for tighter global oil supplies gave crude prices a boost.  However, gains were limited after weekly U.S. jobless claims rose more than expected, signaling softness in the U.S. labor market that is bearish for energy demand and crude prices.

Another bullish factor is the continued halt of Iraqi crude exports from the Turkish port of Ceyhan.  Thursday, the Turkish government said it wants to negotiate a $1.5 billion settlement that it has been ordred to pay before it allows the resumption of Iraqi crude exports through its pipeline.  400,000 bpd of oil exports from the Turkish port of Ceyhan have been halted since March 25 after Iraq won an arbitration case from the International Chamber of Commerce that said Turkey violated a 1973 pipeline transit agreement by allowing crude from the Kurdish region to be exported without Iraqi government consent.

Signs of weakness in the U.S. economy are negative for energy demand and crude prices.  Thursday’s weekly jobless claims report showed weekly initial unemployment claims fell -18,000 to 228,000, showing a weaker labor market than expectations of 200,000.  Also, weekly continuing claims rose +6,000 to a 15-month high of 1.823 million, showing a weaker labor market than expectations of 1.700 million.

Crude prices surged Monday after OPEC+ on Sunday announced a surprise oil production cut of more than 1 million bpd starting May 1.  Saudi Arabia said the cuts were a “precautionary measure aimed at supporting the stability of the oil market.”  OPEC Mar crude production fell by -80,000 bpd to 29.16 million bpd.

The outlook for stronger Chinese crude oil demand is bullish for prices.  China National Petroleum Corp, the country’s largest refiner, predicts that oil demand in China may expand this year by +5.1% to 756 MMT as the country emerges from the pandemic.  However, oil demand in China has recently been weak.  China car sales in Jan-Feb fell -9.4% y/y and international flights from China were at only 22% of pre-pandemic levels as of March 16.

In a bearish factor, Vortexa Monday reported that the amount of crude stored on tankers that have been stationary for at least a week rose +5.4% w/w to 104.60 million bbl in the week ended March 31.

Rising crude demand in India is bullish for oil prices.  India’s oil ministry reported on March 22 that India Feb crude oil imports rose +8.5% y/y to 19.1 MMT, the most in seven months.

Wednesday’s EIA report showed that (1) U.S. crude oil inventories as of March 31 were +4.1% above the seasonal 5-year average, (2) gasoline inventories were -6.4% below the seasonal 5-year average, and (3) distillate inventories were -11.4% below the 5-year seasonal average.  U.S. crude oil production in the week ended March 31 was unchanged at 12.2 million bpd, only 0.9 million bpd (-6.9%) below the Feb-2020 record-high of 13.1 million bpd.

Baker Hughes reported Thursday that active U.S. oil rigs in the week ended April 7 fell by -2 rigs to 590 rigs, moderately below the 2-1/2 year high of 627 rigs posted on December 2.  U.S. active oil rigs have more than tripled from the 17-year low of 172 rigs seen in Aug 2020, signaling an increase in U.S. crude oil production capacity.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE

MAY 04 & 05, 2023

JUNE 15 TO JUNE 18, 2023

JULY  22 TO JULY 30, 2023

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, Thursday prices will remain flat to unchanged but keep your tanks topped due to Friday prices will jump UP again~Be Safe

NMEX Crude     $ 80.61 UP $.2900

NYMEX ULSD    $2.7310 UP $.0643

NYMEX Gas      $2.8201 UP $.0830

NEWS

The surprise announcement by OPEC+ of another production cut totaling 1.16 million barrels per day caused oil prices to rally 8%. I previously wrote about this in my weekly research for Primary Vision Network, stating that the likelihood of a cut remained low and that the cartel was aware of the oversupply in the markets and the lack of imminent demand resurgence. However, when viewed from a different perspective, the cut makes sense precisely for the same reason.

For at least the past year, the prevailing narrative in oil markets has been a tug-of-war between two sentiments. Some have worried about a sudden resurgence in demand due to the post-COVID-19 recovery and the reopening of China, while others have been skeptical of these rosy outlooks. Those who are skeptical about a rebound in demand point out that China already filled its inventories when prices were low and that clouds of an impending recession, or at least a serious global economic slowdown, seem to be gathering on the horizon. The recent cuts by OPEC+ would suggest the demand skeptics are correct.

Recently, it was reported that stockpiles at Fujairah climbed “for the first time in a month”. On March 22, data from the Fujairah Oil Industry Zone revealed that the stockpiles of all oil products at the UAE’s Port of Fujairah saw a gain for the first time in a month. The data showed that the total inventories surged by 10% in the week concluding on March 20, reaching 21.338 million barrels. This gain marked the first increase in stockpiles since the week ended February 20, as per the FOIZ data exclusively obtained by S&P Global Commodities Insights on the same day. Prior to this, stockpiles had declined by 13% in the three previous weeks, which ended on March 13..

Moreover, data from Vortexa also corroborates the growing bearish sentiment in the oil markets. Total seaborne oil loadings were high, with loading volumes higher than their seven-year range, hitting 50 million barrels per day in March, up by 400,000 barrels per day from February. The demand for products is also at a “multi-year” high in March at 46 million barrels per day.

Russian crude oil exports have also remained stable despite the sanctions. Despite Moscow’s announcement of a 500,000-barrel-per-day production cut, Russian crude loadings remained stable month-over-month at 3.6 million barrels per day in March. However, there has been a significant increase in Russian diesel loadings, which have surged by 400,000 barrels per day month-over-month to an exceptionally high 1.5 million barrels per day last month. This upswing in diesel loadings is partially attributed to postponed loadings from February. Nonetheless, it remains at a multi-year high and is contributing to the global market dynamics. I have highlighted in many articles and posts that the entire sanctions-on-Russia saga is not a disruption to oil supply but a re-orientation of global oil flows.

Against this backdrop, it’s understandable that OPEC+ producers would be cautious about oil prices in the near future and aim for a level that avoids budgetary issues. Although the breakeven prices for most oil-producing countries have decreased, the countries in OPEC+ are taking into account the grim prospect of a global economic slowdown and adjusting their production accordingly to match the supply and demand dynamics of the market.

According to the CFTC and ICE  data, the same bearish sentiment was evident in the paper markets and the trading of futures contracts before the cut. Interest in short positions started to surpass that of long ones, amid concerns about a potential credit crunch. Hedge funds were reducing their holdings in crude oil and refined fuels, with contracts worth 142 million barrels sold in the week ending March 21, while adding 139 million barrels in the previous week. It was also reported that the total sales were the most in any fortnight since 2017 (May).

In my opinion, the markets are misinterpreting the production cuts. OPEC+ has made it clear that they do not anticipate strong demand, they recognize that markets will be in oversupply, and they do not want to experience the budgetary issues they faced during the 2014 and Covid-19 era. The news, in reality, is bearish.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE

MAY 04 & 05, 2023

JUNE 15 TO JUNE 18, 2023

JULY  22 TO JULY 30, 2023

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

Please see below marketing material and promotions. These promotions will run from April 12^th to May 23^rd. This can be used in email blasts or whatever other marketing materials you may send out to your clients in hopes of keeping us top of mind and to help drivers save money and earn points. Please let me know if you need anything further! Thank you for your partnership!

The 7FLEET Diesel Network is a nationwide network of truck diesel lanes established by 7-Eleven, Inc.  These truck-friendly locations are built with professional drivers in mind with payment acceptance, food offerings and other amenities which better serve the trucking industry.  The 7FLEET Diesel Network currently includes over 260+ Speedway locations in 24 states with future expansion to the 7-Eleven family of brands in the coming months which will bring the total site count over 450+.

Fueling Strategy: Please fuel as needed today, tonight before 23:00 CST have tanks completely full, Wednesday prices will go UP 4.5 cents~Be Safe

NMEX Crude     $ 80.71 UP $.2900

NYMEX ULSD    $2.6667 UP $.0041

NYMEX Gas      $2.7371 UP $.0204

NEWS

May WTI crude oil on Tuesday closed up +0.29 (+0.36%), and May RBOB gasoline closed down -2.04 (-0.74%).

Crude oil and gasoline prices Tuesday settled mixed with crude posting a 2-1/4 month high.  Crude prices have carryover support from Sunday when OPEC+ unexpectedly announced a -1.0 million bpd cut in crude production.  A slump in the dollar index Tuesday to a 2-month low was also supportive for energy prices.  However, crude prices fell back from their best levels, and gasoline declined on signs of a slowdown in the U.S. labor market after the Feb JOLTS job openings fell more than expected.

Crude prices rose +25 cents/bbl above their Tuesday afternoon closing level after the API reported that U.S. crude supplies fell -4.3 million bbl last week.  The consensus is that Wednesday’s weekly EIA crude inventories will fall by -1.7 million bbl.

Signs of weakness in the U.S. economy are negative for energy demand and crude prices.  Tuesday’s economic reports showed the Feb JOLTS job openings fell -632,000 to a 1-3/4 year low of 9.931 million, showing a weaker labor market than expectations of 10.500 million.  Also, Feb factory orders fell -0.7% m/m, weaker than expectations of -0.5% m/m.

Another bearish factor for crude prices is the resumption of Iraqi crude exports from the Turkish port of Ceyhan.  On Tuesday, the Iraqi government and Kurdish officials said they would sign an agreement to allow the resumption of 400,000 bpd of oil exports from the Turkish port of Ceyhan.  The crude exports were halted last week after  Iraq won an arbitration case from the International Chamber of Commerce that said Turkey violated a 1973 pipeline transit agreement by allowing crude from the Kurdish region to be exported without Iraqi government consent.

Crude prices surged Monday after OPEC+ on Sunday announced a surprise oil production cut of more than 1 million bpd starting May 1.  Saudi Arabia said the cuts were a “precautionary measure aimed at supporting the stability of the oil market.”  OPEC Mar crude production fell -80,000 bpd to 29.16 million bpd.

The outlook for stronger Chinese crude oil demand is bullish for prices.  China National Petroleum Corp, the country’s largest refiner, predicts that oil demand in China may expand this year by +5.1% to 756 MMT as the country emerges from the pandemic.  However, oil demand in China has recently been weak.  China car sales in Jan-Feb fell -9.4% y/y and international flights from China were at only 22% of pre-pandemic levels as of March 16.

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

In a bearish factor, Vortexa Monday reported that the amount of crude stored on tankers that have been stationary for at least a week rose +5.4% w/w to 104.60 million bbl in the week ended March 31.

Rising crude demand in India is bullish for oil prices.  India’s oil ministry reported on March 22 that India Feb crude oil imports rose +8.5% y/y to 19.1 MMT, the most in seven months.

Last Wednesday’s EIA report showed that (1) U.S. crude oil inventories as of March 24 were +5.7% above the seasonal 5-year average, (2) gasoline inventories were -4.6% below the seasonal 5-year average, and (3) distillate inventories were -8.7% below the 5-year seasonal average.  U.S. crude oil production in the week ended March 24 fell -0.8% w/w to 12.2 million bpd, only 0.9 million bpd (-6.9%) 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 March 31 fell by -1 rig to 592 rigs, moderately below the 2-1/2 year high of 627 rigs posted on December 2.  U.S. active oil rigs have more than tripled from the 17-year low of 172 rigs seen in Aug 2020, signaling an increase in U.S. crude oil production capacity.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE

MAY 04 & 05, 2023

JUNE 15 TO JUNE 18, 2023

JULY  22 TO JULY 30, 2023

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 full of fuel all this week~ Be Safe

NMEX Crude     $ 80.42 UP $4.7500

NYMEX ULSD    $2.6626 UP $0.0420

NYMEX Gas      $2.7575 UP $0.0765

NEWS

Benchmark U.S. crude oil for May delivery rose $4.75 to $80.42 a barrel Monday. Brent crude for June delivery rose $5.04 to $84.93 a barrel.

Wholesale gasoline for May delivery rose 8 cents to $2.76 a gallon. May heating oil rose 4 cents to $2.66 a gallon. May natural gas fell 12 cents to $2.10 per 1,000 cubic feet.

Gold for June delivery rose $14.20 to $2,000.40 an ounce. Silver for May delivery fell 14 cents to $24.02 an ounce and May copper fell 4 cents to $4.05 a pound.

The dollar fell to 132.36 Japanese yen from 132.70 yen. The euro rose to $1.0896 from $1.0857.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE

MAY 04 & 05, 2023

JUNE 15 TO JUNE 18, 2023

JULY  22 TO JULY 30, 2023

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 tonight due to Saturday prices will fall another 3.5 cents then Sunday prices will jump UP 5 cents~Be Safe

Fueling Strategy: For Gasoline Users  – Please fuel today, Saturday prices will jump UP 4 cents – Be Safe

NMEX Crude     $ 75.67 UP $1.3000

NYMEX ULSD    $2.6763 UP $0.0526

NYMEX Gas      $2.7005 UP $0.0391

NEWS

Oil fell for the fifth consecutive month, culminating in its second quarterly drop since early 2020. Prices have slid against a backdrop of gloomy US economic sentiment and a banking crisis that rattled broader markets. While oil bulls have hung their hopes on a rebound China’s demand as it ends Covid Zero policies, the recovery has been slower than some expected.

Major banks and industry observers have issued bullish price projections for the remainder of the year, and crude posted its best week of 2023 amid disruptions to Iraqi exports. The next test for the current rally will be the 50-day moving average, which could present short-term resistance in the absence of a positive catalyst, said Rebecca Babin, a senior energy trader at CIBC Private Wealth.

“Fundamental developments such as positive non-manufacturing PMI data in China, inventory draws in the US and financial market stability, coupled with very limited long positioning, have lit a fire under crude,” Babin said.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE

MAY 04 & 05, 2023

JUNE 15 TO JUNE 18, 2023

JULY  22 TO JULY 30, 2023

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 tonight due to Friday prices will drop 11 cents ~Be Safe

Fueling Strategy: For Gasoline Users  – Please wait to fuel until Friday when prices will go down 1/2 cent at the Speedway’s – Be Safe

NMEX Crude     $ 74.37 UP $1.4000

NYMEX ULSD    $2.6237 DN $0.0344

NYMEX Gas      $2.6614 DN $0.0067

NEWS

May WTI crude oil on Thursday closed up +1.40, and May RBOB gasoline closed down -.0067.

Dollar weakness Thursday supported energy prices.  Also, Thursday’s rally in the S&P 500 to a 3-1/2 week high bolsters confidence in the economic outlook and energy demand and is positive for crude prices.

Crude prices have carryover support on global supply concerns due to the ongoing halt of 400,000 bpd of oil exports from the Turkish port of Ceyhan.   The Iraqi government and Kurdish officials have yet to agree on the resumption of oil exports from Ceyhan, as Iraq says Turkey should not allow Kurdish oil to be exported from the Turkish port without Iraqi government approval.  Iraq won an arbitration case last week from the International Chamber of Commerce that said Turkey violated a 1973 pipeline transit agreement by allowing crude from the Kurdish region to be exported without Iraqi government consent.

The outlook for stronger Chinese crude oil demand is bullish for prices.  China National Petroleum Corp, the country’s largest refiner, predicts that oil demand in China may expand this year by +5.1% to 756 MMT as the country emerges from the pandemic.  However, oil demand in China has recently been weak.  China car sales in Jan-Feb fell -9.4% y/y and international flights from China were at only 22% of pre-pandemic levels as of March 16.

Weakness in the crude crack spread is bearish for oil prices.  Thursday’s crack spread fell to a 2-1/2 week low, discouraging refiners from purchasing crude oil to refine it into gasoline and distillates.

In a bearish factor, Vortexa on Monday reported that the amount of crude stored on tankers that have been stationary for at least a week rose +6.9% w/w to 96.53 million bbl in the week ended March 24.

Rising crude demand in India is bullish for oil prices.  Last Wednesday, India’s oil ministry reported that India Feb crude oil imports rose +8.5% y/y to 19.1 MMT, the most in seven months.

On February 1, the OPEC+ Joint Ministerial Monitoring Committee recommended keeping crude production levels steady as the oil market awaits clarity on demand in China and crude supplies from Russia.  OPEC crude production in February rose by +120,000 bpd to 29.24 million bpd.

Wednesday’s EIA report showed that (1) U.S. crude oil inventories as of March 24 were +5.7% above the seasonal 5-year average, (2) gasoline inventories were -4.6% below the seasonal 5-year average, and (3) distillate inventories were -8.7% below the 5-year seasonal average.  U.S. crude oil production in the week ended March 24 fell -0.8% w/w to 12.2 million bpd, only 0.9 million bpd (-6.9%) 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 March 24 rose by +4 rigs to 593 rigs, moderately below the 2-1/2 year high of 627 rigs posted on December 2.  U.S. active oil rigs have more than tripled from the 17-year low of 172 rigs seen in Aug 2020, signaling an increase in U.S. crude oil production capacity.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE

MAY 04 & 05, 2023

JUNE 15 TO JUNE 18, 2023

JULY  22 TO JULY 30, 2023

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, Thursday prices will drop slightly~Be Safe

Fueling Strategy: For Gasoline Users  – Please wait to fuel until Thursday when prices will go down 5 cents at the Speedway’s – Be Safe

NMEX Crude     $ 72.97 DN $.2300

NYMEX ULSD    $2.6581 DN $.1115

NYMEX Gas      $2.6681 DN $.0440

NEWS

Oil’s rebound rally stalled in its third day as lagging fuel demand undercut a wave of algorithmic buying.

West Texas Intermediate edged lower to settle below $73 a barrel amid slumping distillate futures. Demand for diesel, which is used as both an industrial and heating fuel, continues to languish at seven-year seasonal lows, a sign of lackluster economic activity.

“We are in a softer period seasonally and we have had a mild winter in the Northeast, so I am not surprised that there is weakness there,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth.

Earlier, oil rose above $74 a barrel after a government report showed US stockpiles fell more than 7 million barrels last week. Momentum-driven commodity trading advisors helped prop crude’s rebound rally as traders bought back into oil futures.

Oil has been buttressed by supply risks and resurgent demand from China as the nation recovers from pandemic lockdowns. Uncertainty though continues to weigh on the market, following a banking crisis that has hit institutions in both the US and Europe. 

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE

MAY 04 & 05, 2023

JUNE 15 TO JUNE 18, 2023

JULY  22 TO JULY 30, 2023

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