Fueling Strategy: Please “FUEL AS NEEDED TODAY/TONIGHT” – Be Safe Today!

NYEX Crude      $  68.17 DN $.0100

NYMEX ULSD     $2.1318 DN $.0009

NYMEX Gas       $1.9621 UP $.0091

NEWS

Oil prices edged lower on Tuesday as a stronger supply outlook and tepid global demand growth outweighed fears over escalating conflict in the Middle East and its impact on crude exports from the region. Brent crude futures for December delivery slipped by 49 cents, or 0.7%, to $71.21 a barrel by 1117 GMT. U.S. West Texas Intermediate (WTI)crude futures lost 55 cents, or 0.8%, to $67.62. Brent fell as much as 2.5% earlier in the session and WTI crude plunged by 2.7% before paring losses.

A panel of top ministers from the OPEC+ producer group meets on Oct. 2 to review the market, with no policy changes expected. Starting in December, the OPEC+ comprising the Organizations of the Petroleum Exporting Countries (OPEC) plus allies such as Russia is scheduled to raise output by 180,000 barrels per day (bpd) each month.The possibility of Libyan oil output recovering also weighed on the market. Libya’s eastern-based parliament agreed on Monday to approve the nomination of a new central bank governor, which could help to end a crisis that drastically reduced the country’s oil output. 

“Opposing forces are keeping oil sideways trading for now,” said UBS analyst Giovanni Staunovo, pointing to Chinese stimulus, U.S. oil demand growth and slowing U.S. crude supply growth on the positive side and a looming resumption of Libyan output on the negative side.

In China, manufacturing activity shrank sharply in September, a private sector survey showed on Monday. Analysts say a slew of stimulus measures over the past week are likely to be enough to bring China’s 2024 growth back to about 5% after several months of below-forecast data cast doubts over that target, though the longer-term outlook remains little changed. 

Israel began ground incursions in Lebanon on Tuesday, with its military saying troops had begun raids against Hezbollah targets in the border area. The attacks follow Israel’s killing on Friday of Hezbollah head Hassan Nasrallah and represent an escalation in a conflict that now threatens to suck in the United States and Iran. “Risk weighting for front-month oil futures is currently contingent upon what Israel might do next and if there is a direct confrontation with Iran,” said independent oil analyst Gaurav Sharma.

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

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

September 29, 2024

To our valued Pilot/FlyJ customers:

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. Due to local conditions and access, stores may take longer to resume normal operations in some areas. In the meantime, we will update you on any changes to our operations.

For up-to-date information on store status, please visit https://pilotflyingj.com/operational-updates.

See below for a list of temporarily closed locations.

Store Operations:

The following locations are temporarily closed due to power outages:

• Pilot #4566 – Blacksburg, SC
• Pilot #310 – Duncan, SC
• One9 #61 – Clinton, SC
• Pilot #65 – Augusta, GA
• Pilot #393 – Waynesville, NC
• Flying J #711 – Blacksburg, SC
• One9 #16 – Wilmington, OH
• Flying J #750 – Fort Chiswell, VA
• Flying J #754 – Wytheville, VA

All other stores in the region are currently open and will remain open as long as they are safe to operate.

Important Information:

Pilot Flying J:

• Severe Weather Store Updates https://pilotflyingj.com/operational-updates
• Pilot Flying J Store Locator https://locations.pilotflyingj.com/search

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

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

Sep 28th – Fueling Strategy: Please “FILL AS NEEDED TODAY/TONIGHT” Prices ARE down 2.5 cents today BUT will drop another 1/2 cents after midnight tonight (Sunday AM)!! ~ Be Safe Today!

NYEX Crude      $  68.18 UP $.5100

NYMEX ULSD     $2.1327 DN $.0034

NYMEX Gas       $1.9530 DN $.0083

NEWS

Nov WTI crude oil Friday closed up +0.51 (+0.75%), and Nov RBOB gasoline closed down -0.83 (-0.40%). Crude oil and gasoline prices settled mixed on Friday.  Short covering emerged in crude oil Friday after the dollar index tumbled to a 14-month low.  Crude also had support from optimism that this week’s action by the Chinese government to increase economic stimulus measures will also boost crude oil demand.

Gains in crude oil were limited Friday due to negative carryover from Thursday when the Financial Times reported that Saudi Arabia is committed to increasing its crude output in December.  Also, Libya’s crude fields are expected to reopen shortly after government factions signed an agreement to name a new governor of Libya’s central bank, a prerequisite for ending an impasse that shut down the country’s crude production and exports.

The Financial Times reported Thursday that Saudi Arabia is ready to abandon its unofficial oil price target of $100 a barrel to regain its market share and is committed to returning its crude production as planned on December 1.  

Crude production and exports from Libya look set to resume in full, which should boost global crude supplies, a bearish factor for oil prices.  On Thursday, representatives from Libya’s rival eastern and western administrations signed an agreement to name a new central bank governor, an initial step that could help the country resume its shuttered oil production.  Earlier this month, Libya’s eastern government declared force majeure on all oil fields, terminals, and crude export facilities as it called for a halt to all crude production and exports due to political conflict over who controls the country’s central bank and oil revenues.

Concerns that conflict in the Middle East may widen and disrupt the region’s crude supplies are bullish for crude.  Iranian-backed Hezbollah launched a barrage of rockets, missiles, and drones toward northern Israel on Sunday, and Israeli counterattacks in Lebanon have ramped up this week, raising fears about a broader conflict that could involve Iran, a major oil producer.

A decline in crude oil held worldwide on tankers is bullish for prices.  Vortexa reported Monday that crude oil stored on tankers that have been stationary for at least seven days fell by -12% w/w to 56.31 million bbl in the week ended September 20, the lowest amount in 4-1/2 years.

Crude prices found support after OPEC+ on September 5 agreed to pause its scheduled crude production hike of 180,000 bpd in October and November due to recent weakness in crude prices and signs of fragile global energy demand. A decline in Russian crude exports is positive for crude.  Weekly vessel-tracking data from Bloomberg showed Russian crude exports fell by -390,000 bpd to 2.89 million bpd in the week to September 22.  Also, a decline in Russian crude production is positive for oil prices after Russia’s Energy Ministry reported last Tuesday that Russia’s Aug crude production was 9.059 million bpd, down -30,000 bpd from July but +81,000 bpd above the output target it agreed to with OPEC+.

Wednesday’s EIA report showed that (1) US crude oil inventories as of September 20 were -5.0% below the seasonal 5-year average, (2) gasoline inventories were -1.0% below the seasonal 5-year average, and (3) distillate inventories were -8.7% below the 5-year seasonal average.  US crude oil production in the week ending September 20 was unchanged w/w at 13.2 million bpd, just below the record high of 13.4 million bpd from the week of August 16.

Baker Hughes reported Friday that active US oil rigs in the week ending September 27 fell -4 rigs to  484 rigs, modestly above the 2-1/2 year low of 477 rigs posted in the week ending July 19.  The number of US oil rigs has fallen over the past year from the 4-year high of 627 rigs posted in December 2022.

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

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

September 27, 2024

To our valued customers:

Hurricane Helene made landfall in the Big Bend region of Florida around 11:10 p.m. on Thursday as a Category 4 hurricane. It has now been downgraded to a tropical storm as it makes its way northwest across Georgia. The safety of our team members, guests and customers is our number one priority, so we may temporarily close locations due to local weather conditions.

Once conditions allow, our teams will work 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. In the meantime, we will keep you updated on any changes to our operations.

For up-to-date information on store status, please visit https://pilotflyingj.com/operational-updates.
See below for a list of temporarily closed locations.

Store Operations:

The following locations are temporarily closed due to power outages:

• Pilot #4569 – Hardeeville, SC
• Flying J #633 – Union Point, GA
• Pilot #4566 – Blacksburg, SC
• Pilot #310 – Duncan, SC
• Flying J #714 – Rock Hill, SC
• One9 #61 – Clinton, SC
• Pilot #1063 – Marion, NC
• Pilot #4580 – Prosperity, SC
• Pilot #453 – Gaffney, SC
• Pilot #4557 – Carnesville, GA
• Pilot #4576 – St. George, SC
• Pilot #338 – Cayce, SC
• Pilot #4584 – Latta, SC
• Flying J #713 – Latta, SC
• Pilot #420 – Madison, GA
• Pilot #65 – Augusta, GA
• Mr. Fuel #72 – Savannah, GA
• Pilot #393 – Waynesville, NC
• Pilot #68 – Dublin, GA
• Pilot #144 – Augusta, GA
• Pilot #60 – Bowman, SC
• Pilot Dealer #1058 – Waldo, FL
• Flying J #627 – Brunswick, GA
• Pilot #71 – Port Wentworth, GA
• Pilot #1390 – Ellabell, GA
• Pilot #192 – Tifton, GA
• One9 Dealer #1403 – Jasper, FL
• One9 Dealer #1401 – Lake City, FL
• Pilot #4561 – Valdosta, GA
• Pilot #500 – Jasper, FL
• Flying J #631 – Lake Park, GA
• Pilot #425 – Midway, FL
• Flying J #623 – Midway, FL

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

Important Information:

Pilot Flying J:

• Severe Weather Store Updates https://pilotflyingj.com/operational-updates
• Pilot Flying J Store Locator https://locations.pilotflyingj.com/search

National: 

• NOAA storm track:  https://www.nhc.noaa.gov/refresh/graphics_at4+shtml/024746.shtml?tswind120  
• US Power outages: https://poweroutage.us/

Florida: 

• Florida Emergency Management (Evacuation Orders/Curfews/Emergency Preparedness): https://www.floridadisaster.org/
• Florida Road Conditions/Closures/Contraflow: https://fl511.com/

Georgia:

• Georgia Emergency Management (Evacuation Orders/Curfews/Emergency Preparedness):  https://gema.georgia.gov/
• Georgia Road Conditions/Closures/Contraflow: https://511ga.org/

North Carolina:

• North Carolina Emergency Management (Evacuation Orders/Curfews/Emergency Preparedness): https://www.readync.gov/
• North Carolina Road Conditions/Closures/Contraflow: https://drivenc.gov/#

South Carolina:

• South Carolina Emergency Management (Evacuation Orders/Curfews/Emergency Preparedness): https://www.scemd.org/
• South Carolina Road Conditions/Closures/Contraflow: https://www.511sc.org/

Virginia:

• Virginia Emergency Management (Evacuation Orders/Curfews/Emergency Preparedness): https://www.vaemergency.gov/
• Virginia Road Conditions/Closures/Contraflow: https://www.511virginia.org/

Please reach out to your sales representative with any questions. We will update you as conditions warrant.

Sep 27th – Fueling Strategy: Please “KEEP YOUR TANKS TOPPED TODAY/TONIGHT”  IF your running in the Southeast due to supplies could be short.

If you’re out of Helena’s path your Fueling Strategy is to “FILL AS NEEDED TODAY/TONIGHT” Prices ARE down 2 cents today BUT will drop another 2.5 cents after midnight tonight (Saturday AM)!! ~ Be Safe Today!

NYEX Crude      $  67.67 DN $2.0200

NYMEX ULSD     $2.1361 DN $0.0241

NYMEX Gas       $1.9613 DN $0.0386

Check Locations by Chain of Choice 

https://pilotflyingj.com/operational-updates

https://www.loves.com/severe-weather

https://www.ta-petro.com/network-updates

https://www.usatoday.com/story/news/weather/2024/09/26/storm-tracker-helene-hurricane-path-spaghetti-models/75386752007

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

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

Sep 26th – Fueling Strategy: Please “KEEP YOUR TANKS TOPPED TODAY/TONIGHT”  IF your running in the Southeast due to supplies could be short. If you’re out of Helena’s path your fueling strategy is to “PARTIAL FILL ONLY TODAY/TONIGHT” Prices will DROP 2 cents after midnight tonight (Friday AM)!! ~ Be Safe Today!

NYEX Crude      $  69.69 DN $1.8700

NYMEX ULSD     $2.1602 DN $0.0203

NYMEX Gas       $1.9999 DN $0.0298

Check Locations by Chain of Choice

https://pilotflyingj.com/operational-updates

https://www.loves.com/severe-weather

https://www.ta-petro.com/network-updates

https://www.usatoday.com/story/news/weather/2024/09/26/storm-tracker-helene-hurricane-path-spaghetti-models/75386752007

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

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

Dear Loves’ fleet customers,

Love’s teams are monitoring the latest developments as Tropical Storm Helene makes landfall along Florida. We have taken precautions and have increased fuel and food deliveries to stay stocked. Our stores are prepared to safely serve customers as long as possible. 

For the most up to date information regarding business interruptions, please refer to Loves.com/weather and the Love’s Connect app.

*********************************************************************************************************

Dear TA Petro fleet customers,

Here is the link for site updates.

https://www.ta-petro.com/network-updates

************************************************************************************************

Sep 25th – Fueling Strategy: Please “KEEP YOUR TANKS TOPPED TODAY/TONIGHT” Prices will JUMP up 3.5 cents after midnight tonight (Thursday)!! ~ Be Safe Today!

NYEX Crude      $  71.56 UP $1.1900

NYMEX ULSD     $2.1805 UP $0.0354

NYMEX Gas       $2.0297 UP $0.0395

NEWS

The Nov WTI trading session settled at 71.56, had a high of 72.40, a low of 70.44. Cash price is at 70.37(-0.65), while open interest came in at 355,290. CLX settled above its 7 day (70.44) ((broke above the 7 and 20 day)), its 20 day (69.98), but below its 50 day (72.94), and its 200 day (74.93) moving-averages. The COT report (Futures and Options Summary) as of 9/20 showed commercials with a net short position of -199,037 (a decrease in short positions by 7,981 compared to last week) to non-commercials who are net long 175,128 (a increase in long positions by 247 compared to last week).

The movement today I believe was based on the developing Hurricane in the Gulf of Mexico and the economic stimulus package released by China’s central bank. Reuters reported that oil platforms in the Gulf for Chevron and Exxon have already begun evacuating staff in the region. Accuweather is predicting the storm to make landfall later in the week as a Category 3 Hurricane with potential to reach Category 4 status. China’s central bank announced their largest stimulus package since 2020, a move expected to put some pulse in their economy after a sluggish year. Goldman Sachs commodity analysts have increased their crude oil forecast for the fourth quarter, projecting that Brent prices will reach $77 by year-end. They attribute this outlook to declining global production coupled with a rise in global demand. Concerns over China’s crude demand and the economic state in the U.S. and Europe continue to fuel this bearish positioning in the market as we enter the winter months, in my view. As of today I still see support around $68 and resistance around $72. The API and EIA numbers and this storm in the Gulf of Mexico could see us break that $72 hurdle this week.

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

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

Sep 24th – Fueling Strategy: Please “BUY ONLY ENOUGH FUEL TO GET THROUGH TODAY/TONIGHT” Prices will DROP another 2 cents after midnight tonight (Wednesday)!! ~ Be Safe Today!

NYEX Crude      $  70.37 DN $.6300

NYMEX ULSD     $2.1451 DN $.0164

NYMEX Gas       $1.9902 DN $.0462

NEWS

Nov WTI crude oil today is down -0.54 (-0.76%), and Nov RBOB gasoline is down -3.18 (-1.58%). Crude oil and gasoline prices today gave up early gains and are moderately lower.  The strength of the dollar today is negative for energy prices.  Also, signs of weakness in US and European manufacturing activity are bearish for fuel demand and oil prices.   Crude initially climbed to a 2-1/2 week high today after China boosted stimulus and on concerns that conflict in the Middle East will widen and threaten the region’s oil supplies.

Today’s global economic news was weaker than expected and bearish for energy demand and crude prices.  The US Sep S&P manufacturing PMI unexpectedly fell -0.9 to 47.0, weaker than expectations of 48.6 and the steepest pace of contraction in 15 months.  Also, the Eurozone Sep S&P manufacturing PMI fell -1.0 to 44.8, weaker than expectations of 45.7 and the steepest pace of contraction in 9 months.  In addition, the Eurozone Sep S&P composite PMI fell -2.1 to 48.9, weaker than expectations of 50.5 and the steepest pace of contraction in  8 months.

Sunday’s action by China to boost stimulus may spur economic growth that supports energy demand and is bullish for crude prices after the PBOC cut the 14-day reverse repo rate by -10 bp to 1.85% from 1.95%.

Concerns that conflict in the Middle East may widen and disrupt the region’s crude supplies are bullish for crude.  Iranian-backed Hezbollah launched a barrage of rockets, missiles, and drones toward northern Israel on Sunday, and Israeli counterattacks today killed more than 180 people, raising fears about a broader conflict that could involve Iran, a major oil producer.

A decline in crude oil held worldwide on tankers is bullish for prices.  Vortexa reported today that crude oil stored on tankers that have been stationary for at least seven days fell by -12% w/w to 56.31 million bbl in the week ended September 20, the lowest amount in 4-1/2 years.

Crude exports from Libya have recently risen, which boosts global supplies and is negative for prices.  Tanker-tracking data compiled by Bloomberg showed Libya’s crude shipments averaged 719,000 bpd between September 13-19, more than double the 314,000 bpd in the previous seven days.   Earlier this month, Libya’s eastern government declared force majeure on all oil fields, terminals, and crude export facilities as it called for a halt to all crude production and exports due to political conflict over who controls the country’s central bank and oil revenues.

Crude prices found support after OPEC+ on September 5 agreed to pause its scheduled crude production hike of 180,000 bpd in October and November due to recent weakness in crude prices and signs of fragile global energy demand.

An increase in Russian crude exports is negative for crude.  Weekly vessel-tracking data from Bloomberg showed Russian crude exports rose by +110,000 bpd to 3.25 million bpd in the week to September 15.  Meanwhile, a decline in Russian crude production is positive for oil prices after Russia’s Energy Ministry reported last Tuesday that Russia’s Aug crude production was 9.059 million bpd, down -30,000 bpd from July but +81,000 bpd above the output target it agreed to with OPEC+.

Last Wednesday’s EIA report showed that (1) US crude oil inventories as of September 13 were -4.2% below the seasonal 5-year average, (2) gasoline inventories were -0.5% below the seasonal 5-year average, and (3) distillate inventories were -8.6% below the 5-year seasonal average.  US crude oil production in the week ending September 13 fell -0.8% w/w to 13.2 million bpd, just below the record high of 13.4 million bpd from the week of August 16.

Baker Hughes reported last Friday that active US oil rigs in the week ending September 20 were unchanged at 488 rigs, modestly above the 2-1/2 year low of 477 rigs posted in the week ending July 19.  The number of US oil rigs has fallen over the past year from the 4-year high of 627 rigs posted in December 2022.

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

SCHEDULED OUT OF OFFICE  

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