Fueling Strategy: Please have your tanks completely full of fuel before 23:00 CST tonight due to Wednesday prices will jump UP 4 cents ~ Happy Valentines Day! Be Safe
Fueling Strategy: For Gasoline Users  – Please fuel as needed tonight, Wednesday gasoline prices will go Down $.0426 cents – Be Safe

NMEX Crude     $ 79.06 DN $1.0800

NYMEX ULSD    $2.9401 UP $0.0344

NYMEX Gas      $2.4885 DN $0.0426

NEWS

Oil prices dropped Tuesday after the US announced plans to sell more inventory from its Strategic Petroleum Reserve, adding to the global market’s already-volatile crosscurrents in supply and demand.

 West Texas Intermediate crude lost as much as 3.3% when hitting an intra-day low of $77.46 a barrel. The decline was later pared to 1.2% to $79.13. WTI was on track to close below $80 barrel after the US Department of Energy late Monday said it  plans to sell 26 million barrels from the SPR. Under the sale mandated by Congress, sweet crude will be sold from two storage areas starting April 1.

Brent crude oil, the global benchmark, fell 1.5% to $85.40 a barrel but was off lows of the session.

 “The oil market was supposed to get a little tighter as energy traders were expecting the next move to be refilling the SPR,” said Edward Moya, senior market analyst at Oanda, in a Tuesday note. The Biden administration sold a massive 180 million barrels from the SPR last year after Russia’s invasion of Ukraine disrupted supply and pushed crude oil prices past $100 a barrel. The sales drew the SPR to its lowest since 1983.

The drop in oil prices Tuesday was also taking place as US consumer price inflation data showed prices eased in January, but it was by less than anticipated. Prices for rent, food and energy increased on a monthly basis. Investors are watching for inflation to cool down further from its peak which could lessen pressure on the Federal Reserve to keep interest rates elevated. “Oil could be in the danger zone if the bond market selloff intensifies and makes some traders price in deeper recession. No one has strong confidence with their US growth outlook, which means the market could go from pricing in a ‘soft landing’ to a short & shallow recession or even a ‘classic recession,”‘ said Moya.

The International Energy Agency last month called the global oil balance “well-supplied” at the start of 2023 but cautioned the market could quickly tighten as Western sanctions hurt Russian oil exports. The pending sale of more oil from the SPR isn’t a concern for producers in the United Arab Emirates, UAE’s energy minister Suhail Al Mazrouei told Bloomberg TV. He said more US oil coming into the market isn’t a long-term solution for the Biden administration to keep prices lower.

OPEC, meanwhile, on Tuesday, raised its 2023 oil demand forecast by 100,000 barrels per day, to 2.3 million barrels, as China reopens its economy after strict COVID-related restrictions. “Much will depend on how the government plans to maneuver the delicate balance of curbing Covid-19 infections versus opening up for business,” OPEC said in its monthly oil report.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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

Fueling Strategy: For Gasoline Users  – Please fuel your tanks tonight, Tuesday gasoline prices will go UP $.0274 cents – Be Safe

NMEX Crude     $ 80.14 UP $.4200

NYMEX ULSD    $2.9057 UP $0.0411

NYMEX Gas      $2.5311 UP $0.0274

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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 due to Saturday prices will drop 8 cents, Sunday prices will go back up 5 cents~ Be Safe
Fueling Strategy: For Gasoline Users  – Please fuel as needed today, Saturday gasoline prices will go UP $.0562 cents – Be Safe

NMEX Crude     $ 79.72 UP $1.6600

NYMEX ULSD    $2.8646 UP $0.0492

NYMEX Gas      $2.5037 UP $0.0562

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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 partial fill due to Friday prices will drop a penny then Saturday prices will drop 8 cents ~ Be Safe

Fueling Strategy: For Gasoline Users  – Please fuel as needed today, Friday gasoline prices will go down $.0153 cents – Be Safe

NMEX Crude     $ 78.06 DN $.4100

NYMEX ULSD    $2.8154 DN $.0779

NYMEX Gas      $2.4475 DN $.0153

NEWS

Crude prices eased on Thursday as oil infrastructure appeared to have escaped serious damage from the earthquake that devastated parts of Turkey and Syria, while U.S. inventories swelled and investors worried about Federal Reserve rate hikes. Brent crude settled at $84.50 a barrel, losing 59 cents, or 0.7%. U.S. West Texas Intermediate (WTI) crude futures settled at $78.06 a barrel, down 41 cents, or 0.5%. Both benchmarks have gained more than 5% so far this week. The earthquake, which has killed more than 19,000 people, initially sent oil prices higher on the prospect that the disaster would seriously damage pipelines and other infrastructure and displace crude from the global market for an extended period. “We won’t be losing that supply for as long as we thought,” said John Kilduff, partner at Again Capital in New York. BP Azerbaijan declared force majeure on Azeri crude shipments from the Turkish port of Ceyhan on Tuesday after the quake struck early on Monday. Azeri oil continues to flow there via pipeline, BP Azerbaijan said on Thursday.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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 today, tonight before 23:00 CST completely top out your tanks due to Thursday prices will jump UP 13.5 cents ~ Be Safe

Fueling Strategy: For Gasoline Users  – Please have your tanks topped tonight if possible, Thursdsay gasoline prices will go UP $.0060 cents – Be Safe

NMEX Crude     $ 78.47 UP $1.3300

NYMEX ULSD    $2.8933 UP $0.0111

NYMEX Gas      $2.4644 UP $0.0060

NEWS

Oil futures were on track for a third straight gain Wednesday, finding some support as worries about rising interest rates ap7ared to fade, but prices traded well off the session’s highs after U.S. government data showed a seventh straight weekly rise in crude inventories.

The Energy Information Administration on Wednesday reported across the board gains for domestic crude oil and production stockpiles. U.S. crude inventories rose by 2.4 million barrels for the week ended Feb. 3, the EIA said. That followed six consecutive weeks of gains reported by the government agency. On average, analysts forecasted a climb of 2.1 million barrels for crude supplies, according to a poll conducted by S&P Global Commodity Insights. The American Petroleum Institute, an industry trade group, late Tuesday reported a 2.2 million barrel fall, Dow Jones Newswires reported.

The EIA report also showed weekly inventory gains of 5 million barrels for gasoline and 2.9 million barrels for distillates. The S&P Global Commodity Insights survey had forecast inventory increases of 1.6 million barrels for gasoline and 100,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub climbed by 1.1 million barrels for the week, the EIA said, while total domestic petroleum production edged up by 100,000 barrels to 12.3 million barrels a day.

“A dip in crude exports and ongoing robust crude imports have combined to offset a decent jump in refining activity to result in a modest build of 2.4 million barrels” for crude inventories, said Matt Smith, lead oil analyst, Americas, at Kpler, in a market update. “The build was further aided by production being increased to 12.3 million barrels per day — the highest weekly estimate since the start of the pandemic (April 2020).

Other market drivers 

Oil prices had settled higher on Tuesday after Federal Reserve Chairman Jerome Powell didn’t push back as forcefully as feared on market expectations the central bank will slow its interest rate increases. Powell said he expected to see a significant fall in inflation this year but also warned that a surprisingly strong labor market means bringing down inflation will take longer and require rates to move higher than investors had previously anticipated.

Macro investors “have pivoted from selling oil contracts as an expression of the deflationary theme to pricing in a reflationary impulse as the U.S. economy is shedding recessionary concerns after Chair Powell did not signal a higher terminal rate was on the cards at this time,” said Stephen Innes, managing partner at SPI Asset Management, in a note. Oil prices found support this week after news that a major earthquake on Monday temporarily shut Turkey’s Ceyhan oil terminal. Crude flows to the Mediterranean export terminal resumed late on Tuesday, according to Bloomberg.

Still, due to “supply discipline, on the part of the Organization of the Petroleum Exporting Countries , it’s been a “tightly balanced market for months, so the slightest disruption will move markets, and that’s the nervousness you are seeing,” said Innes. An OPEC+ committee on Feb. 1 reaffirmed the oil-producing group’s commitment to its current production agreement.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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, Wednesday prices will drop slightly ($.0070) BUT Thursday look for prices to jump back UP 13.5 cents ~Be Safe

Fueling Strategy: For Gasoline Users  – Please have your tanks topped tonight if possible, Wednesdsay gasoline prices will go UP 8.3 cents – Be Safe

NMEX Crude     $ 77.31 UP $3.0300

NYMEX ULSD    $2.9044 UP $0.1357

NYMEX Gas      $2.4568 UP $0.0834

NEWS

China’s reopening progress is also pressuring prices upward as the market eyes a demand boost from its zero-Covid transition. Meanwhile, Saudi Arabia has lifted the price of its flagship crude oil for Asian buyers, signaling that OPEC’s leader also views China’s reopening as legitimate.

By itself, the China factor is unlikely to have the power to swing the oil markets to any significant degree, but multiple supply outages are comingling with promises of a demand boost, sending prices higher.

On the supply side, oil export disruptions have created a stir in the market following a pair of major earthquakes that resulted in the deaths of more than 5,000, and Norway’s shutdown of its Phase 1 535,000 bpd Johan Sverdrup oilfield due to a technical fault in a cooling system.

The 1 million barrel per day Ceyman oil terminal in southern Turkey stopped operations on Monday, according to Tribeca Shipping Agency, who added that as a whole, the ports in southern Turkey have been affected by the earthquake. Oil loadings were expected to resume today, but inclement weather caused a disruption in berthing.

Key oil pipelines in the country managed to escape damage.

The API will release U.S. crude oil and product inventory figures later this afternoon, and all eyes will be on the Federal Reserve Chair Powell’s speech on Wednesday.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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 Today

Fueling Strategy: For Gasoline Users  – Please have your tanks topped tonight if possible, Tuesday gasoline prices will go UP 5.5 cents – Be Safe

NMEX Crude     $ 74.11 UP $.7200

NYMEX ULSD    $2.7687 DN $.0066

NYMEX Gas      $2.3734 UP $.0524

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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: Today, Friday, prices have dropped 19 cents, yes 19 cents, Saturday prices will drop another 5.5 cents THEN Sunday prices will drop 12 cents  ~ Be Safe

Fueling Strategy: For Gasoline Users  – Please do not fill tonight if possible, Saturday gasoline prices will drop 13 cents – Be Safe

NMEX Crude     $ 73.39 DN $2.4900

NYMEX ULSD    $2.7753 DN $0.1214

NYMEX Gas      $2.3210 DN $0.1313

NEWS

Oil slumped as long-term headwinds overwhelmed the positive sentiment from a strong US labor market.

Brent crude, the global benchmark, plunged below $80 a barrel, reaching the lowest since mid-January. While oil futures were boosted by a positive US jobs report earlier in the session, the fundamental picture for the commodity remains bearish.

US crude inventories are at the highest since mid-2021, signaling supply remains ample. Meanwhile, the demand picture has blurred as the strength of China’s recovery remains in question while central banks around the world continue to hike interest rates, a move that could provoke a global economic slowdown.

With markets starting to price in the potential for higher interest rates, the US dollar will strengthen, causing “liquidation pressure in crude,” said Dennis Kissler, senior vice president of trading at BOK Financial Securities.

Weekly data on market positioning published by the Commodity Futures Trading Commission will be delayed after a cyberattack on ION Trading UK meant some clearing members were unable to provide accurate data.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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 while prices are UP 7 cents, Friday prices will drop 19 cents, yes 19 cents, Saturday prices will drop another 5.5 cents  ~ Be Safe

Fueling Strategy: For Gasoline Users  – Please fill as needed tonight, Friday gasoline prices will not change – Be Safe

NMEX Crude     $ 75.88 DN $.5300

NYMEX ULSD    $2.8967 DN $.0544

NYMEX Gas      $2.4523 DN $.0015

NEWS

OPEC’s crude output edged lower last month as the group pressed on with an accord to keep global markets in balance. The Organization of Petroleum Exporting Countries trimmed supplies by 60,000 barrels a day to 29.12 million a day, as reductions in Saudi Arabia and Libya were partly offset by marginal gains across the rest of the group, according to a Bloomberg survey.

OPEC and its allies, known collectively as OPEC+, announced hefty output cuts late last year to shore up the market against a faltering economic backdrop. The group remains cautious even as leading industry figures predict a rally in oil prices, and opted against recommending any adjustments at a monitoring meeting on Wednesday.

Oil has had a rocky start to 2023 as gains in the first weeks of January faded away by the end of the month, leaving prices near $82 a barrel in London. While that’s enough to cover government spending in many OPEC+ nations, it’s a little lower than some members would like.

The 23-member OPEC+ network announced in October that it would formally reduce quotas by 2 million barrels a day, and then hold supplies steady throughout this year. Most OPEC nations are abiding by their production targets, and group leader Saudi Arabia — which often leads by example — may have cut even more than was required in January, the survey showed. The kingdom pared output by 100,000 barrels a day to 10.38 million a day, while tanker-tracking indicated an even bigger decline in exports.

Saudi Energy Minister Prince Abdulaziz bin Salman said late last year that OPEC+ would be “proactive and preemptive” to keep markets in equilibrium.

While observers from Goldman Sachs Group Inc. to Trafigura Group expect that China’s economic reopening will bolster fuel demand and propel prices higher, OPEC officials remain skeptical.

Chinese economic indictors are showing a subdued recovery even as travel rebounds, while plentiful oil stockpiles and lingering fears of recession are capping market sentiment in the US.

At the same time, Riyadh and its partners are waiting to gauge the impact of international sanctions on fellow alliance member Russia, which will expand this month to include refined fuels as well as crude oil. Forecasters have repeatedly predicted that Russian output would plunge amid a boycott following the invasion of Ukraine, but exports have so far been resilient.

OPEC may also be watching output from member nation Iran, which despite US sanctions increased more than previously estimated in December to 2.64 million barrels a day, the highest in almost four years. Output eased back a little in January, by 40,000 barrels a day.

Much of the recent Iranian uptick has been flowing to China, apparently under the banner of shipments from Malaysia. US officials have pledged to press Beijing to curb its purchases as they seek to contain Iran’s nuclear program and involvement in the Ukraine conflict. 

 Have a Great Day,

 Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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 out today, tonight before 23:00 CST make sure your full of fuel – Today price are down 15 cents, Thursday prices will go back UP 7 cents but WILL drop Friday 19 cents, yes 19 cents ~ Be Safe

Fueling Strategy: For Gasoline Users  – Please partial fill ONLY tonight, Thursday gasoline prices will go down 11 cents ~ Be Safe

NMEX Crude     $ 76.41 DN $2.4600

NYMEX ULSD    $2.9511 DN $0.1937

NYMEX Gas      $2.4538 DN $0.1130

NEWS

Oil futures finished lower on Wednesday, with U.S. benchmark prices at their lowest in about three weeks, after the Energy Information Administration reported an increase in U.S. crude supplies for a sixth week in a row.

Oil traders, meanwhile, factored in the OPEC+ committee’s recommendation for the Organization of the Petroleum Exporting Countries and their allies to keep their current production policy in place.

Prices for oil continued lower after the Federal Reserve announced a quarter-percentage-point increase in a key U.S. interest rate, as expected.

Price action

• West Texas Intermediate crude for March delivery fell $2.46, or 3.1%, to settle at $76.41 a barrel on the New York Mercantile Exchange, the lowest front-month contract finish since Jan. 10, according to Dow Jones Market Data.

• April Brent crude the global benchmark, lost $2.62, or 3.1%, at $82.84 a barrel on ICE Futures Europe.
• March gasoline fell 4.4% to $2.4538 a gallon, while March heating oil declined by 6.2% at $2.9511 a gallon.
• March natural gas fell nearly 8.1% at $2.468 per million British thermal units, a day after posting the biggest monthly decline in 22 years.

Supply data

“Numbers from the EIA showed surprising builds across the board,” including in the Cushing, Okla. Nymex delivery hub, Tariq Zahir, managing member at Tyche Capital Advisors, told MarketWatch.

The energy complex is weak and could get even weaker, with any additional weakness likely offering an “opportunity to add to long positions,” he said. “With the reopening of China and recent strength in several other commodities, we feel the risk is to the upside in the energy complex.”

The Energy Information Administration on Wednesday reported that U.S. crude inventories rose by 4.1 million barrels for the week ended Jan. 27. That followed five consecutive weeks of increases reported by the EIA.

On average, analysts forecasted a climb of 300,000 barrels, according to a poll conducted by S&P Global Commodity Insights. The American Petroleum Institute, an industry trade group, late Tuesday reported a 6.3 million barrel rise in U.S. crude inventories last week, according to a source citing the data.

Domestic crude stocks have climbed above 450 million barrels for the first time since June 2021, “driven by ongoing subdued refining activity and higher imports,” said Matt Smith, lead oil analyst, Americas, at Kpler.

“Refining activity remains subdued due to both the lingering impacts of December’s winter storm, as well as the onset of seasonal maintenance,” he said in emailed commentary.

The EIA report also showed weekly inventory increases of 2.6 million barrels for gasoline and 2.3 million barrels for distillates. The analyst survey had forecast gasoline stockpiles as largely unchanged, and forecast a supply decline of 1.3 million barrels for distillates.

Crude stocks at the Cushing, Okla., Nymex delivery hub climbed by 2.3 million barrels for the week, the EIA said, while stocks in the Strategic Petroleum Reserve were unchanged at 371.6 million barrels.

Market drivers

An OPEC+ committee meeting Wednesday in Vienna reaffirmed their commitment to the agreement put in place in October. At the October OPEC+ meeting, members of the alliance agreed to cut overall production by 2 million barrels per day through the end of 2023. The meeting wasn’t expected to result in any changes to oil production levels.

Meanwhile, the Fed, as had been widely expected, raised the fed-funds rate by 25 basis points at its first policy meeting of the year Wednesday afternoon.

The Fed statement said the Federal Open Market Committee “anticipates that ongoing increases in the target range will be appropriate to attain a stance of monetary policy ” that is sufficiently restrictive to return inflation to 2% over time. “The statement does sound quite hawkish,” said Tyche Capital’s Zahir.

In a press conference following the announcement, Fed Chair Jerome Powell warned against “prematurely loosening policy.”

Traders have been concerned that the Fed’s efforts to ease inflation may lead to a recession, lowering demand for energy.

Have a Great Day,

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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