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

Fueling Strategy: Please partial fill ONLY tonight due to Wednesday prices will drop 15 cents ~ Be Safe Today

Fueling Strategy: For Gasoline Users  – Please keep tanks full of fuel tonight, Wednesday gasoline prices will go UP 5 cents ~ Be Safe

NMEX Crude     $ 78.78 UP $.9700

NYMEX ULSD    $3.1823 UP $.0715

NYMEX Gas      $2.5435 UP $.0446

NEWS

Front-month oil futures ended higher on Tuesday, but U.S. prices posted a third-straight monthly decline, ahead of this week’s Federal Reserve decision on interest rates and amid signs that Russian crude exports remain resilient.

Prices for the U.S. and global crude benchmarks marked their biggest monthly declines since November 2022, while natural gas marked its biggest monthly drop since January 2001, according to Dow Jones Market Data.

Price action

• West Texas Intermediate crude for March delivery rose 97 cents, or nearly 1.3%, to settle at $78.87 a barrel on the New York Mercantile Exchange, for a monthly decline of 1.7%.
• March Brent the global benchmark, fell 41 cents, or 0.5%, to $84.49 a barrel on ICE Futures Europe, for a nearly 1.7% January fall. The March contract expired at the end of the session. However, April Brent the most actively traded contract, climbed by 96 cents, or 1.1%, to $85.46 a barrel.
• February gasoline added nearly 1.8% to $2.5435 a gallon, for a monthly rise of 3.4%. February heating oil 2.3% at $3.1823 a gallon — down nearly 5.4% for the month. Both contracts expired at the end of the session.
• March natural gas added 0.3% to $2.684 per million British thermal units. Front-month prices marked a 40% January plunge, which was the largest monthly loss since January 2001, according to Dow Jones Market Data.

Market drivers

Oil prices saw a choppy January, tumbling out of the gate but soon finding footing on optimism over China’s demand prospects as the country dropped its COVID-19 curbs. Investors have also weighed the global economic outlook as the Federal Reserve and other major central banks continue to tighten monetary policy, though the Fed is seen slowing the pace of interest rate rises when it delivers what’s expected to be a 25 basis point rate increase on Wednesday.

“Headwind is being generated by generally negative market sentiment ahead of this week’s numerous central bank meetings and by the persistently high Russian oil exports,” said Carsten Fritsch, commodity analyst at Commerzbank, in a note.

Reuters last week reported that January oil loadings from Russia’s Baltic ports were set to rise 50% from December, while data pointed to further strength in exports heading into February.

“Admittedly, the shipments also include Kazakh oil, which is exempted from the Western sanctions (import ban, price cap) and is therefore an obvious choice for Western buyers seeking a substitute for the shunned Russian supplies. All the same, a sizeable proportion is likely to have been Russian Urals oil,” Fritsch said.

A European Union embargo on oil products that will come into force on Feb. 5 could be one reason for the surge, as it will cause Russia to lose its most important market for diesel, he said, providing an incentive to export more crude oil to countries such as India that have not signed up to the embargo or price cap.

“It’s been a mix of both supply and demand,” Peter McNally, global sector lead for industrials metals and energy at Third Bridge told MarketWatch.

The U.S. natural-gas rig count has far outpaced the growth in oil rigs, he said, and production volumes have picked up as “some of the bottlenecks eased.”

On the demand side, liquified natural-gas export volumes were “maxed out and weather demand eased with warmer than forecast temperatures,” said McNall

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 don’t fuel tonight, Tuesday gasoline prices will drop 9 cents ~ Be Safe

NMEX Crude     $ 77.90 DN $1.7800

NYMEX ULSD    $3.1108 DN $0.1547

NYMEX Gas      $2.4989 DN $0.0897

NEWS

Oil fell to its lowest in almost three weeks, with technical indicators driving the market’s direction amid a lack of clarity on crude demand.

While China’s reopening spurred a rally in crude in recent weeks, the market has struggled to hold those levels as prices test their 50-day and 100-day moving averages. That’s prompting commodity trading advisors to sell, dealers said. At the same time, oil traders bullish on Chinese demand are still waiting for the rebound in consumption to ripple from industrial metals to crude.

Oil has been bumpy in recent months — with prices supported by demand from China, the White House’s goal of refilling the Strategic Petroleum Reserve and the European Union’s impending ban on seaborne imports of Russian oil products. Still, the potential for contractions in western economies has kept prices from advancing too far. 

Price momentum across energy markets declined through last week, and the short-term trading signal on Brent traded on the Intercontinental Exchange switched to a sell, JPMorgan Chase & Co. analysts including Tracey Allen said in a note.

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 as prices are down another 6.5 cents but Saturday prices will go back UP 3.5 cents so make sure tanks are full of fuel tonight before 23:00 CST, Sunday prices will drop 13.1 cents ~ Be Safe

Fueling Strategy: For Gasoline Users  – Please don’t fuel tonight Saturday gasoline prices will drop 2.5 cents ~ Be Safe

NMEX Crude     $ 79.68 DN $1.3300

NYMEX ULSD    $3.2655 DN $0.1310

NYMEX Gas      $2.5886 DN $0.0235

NEWS

Bulls approached and quickly withdrew from oil’s 100-day moving average, driving crude to its first weekly loss since the start of the year.

West Texas Intermediate shed 2% this week with much of that retreat occurring on Friday. Throughout the week, oil rallied on optimism driven by China’s gathering rebound only to swing as risk-off sentiment descended upon broader markets amid uneven corporate earnings and lingering questions over how the Federal Reserve will react.

Despite oil encountering resistance after running headlong into the 100-day moving average at $81.99, investors are still betting on growth. Money managers increased their bullish positions on Brent, the global benchmark, to the highest in 11 months. Brent’s spread flipped into a premium this week, signaling expectations that demand will outstrip supply in the short term.

Crude has recovered from a massive drop at the start of the year, with much of the optimism coming from China, the biggest importer. Investors are monitoring the impact of European Union sanctions on Russia’s seaborne shipments of petroleum products early next month, which some warn could be more disruptive than past restrictions. Analysts at JP Morgan Chase & Co said in a note Friday that the profit margin for turning oil into products like diesel is soaring and supportive of further crude demand.

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 even though prices are down 12 cents, Friday prices will fall another 6.5 cents ~ Be Safe

Fueling Strategy: For Gasoline Users  – Please have tanks full of fuel tonight, Friday gasoline prices will go up 2 cents ~ Be Safe

NMEX Crude     $ 81.01 UP $.8600

NYMEX ULSD    $3.3965 UP $.0352

NYMEX Gas      $2.6121 UP $.0187

NEWS

Oil gained as energy traders grew more confident about the commodity’s immediate outlook.

Global benchmark Brent flipped from contango into a backwardated structure with the March contract surpassing April’s. The flip to oil being more expensive in the near-term signals that traders see demand outpacing supply. The spread was in contango for most of January.

US benchmark West Texas Intermediate fluctuated in a range of just over $2 in tandem with broader market swings as investors sifted through a batch of freshly released US economy figures. The US economy expanded by more than forecast in the fourth quarter but at a slower clip than the previous three months, suggesting the Federal Reserve’s attempts to restrain growth without choking it off was working. 

Oil has recovered from a steep drop at the start of the year, led by demand from China — the world’s largest crude importer. Traders are starting to see a pick up in energy demand, with Chinese tourism likely having a major impact on consumption. 

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 or better yet “don’t fuel tonight”, Thursday prices will drop over 12 cents then Friday look for another drop of 7 cents ~ Be Safe
Fueling Strategy: For Gasoline Users  – Please don’t fuel tonight Thursday gasoline prices will drop 5 cents ~ Be Safe

NMEX Crude     $ 80.15 UP $.0200

NYMEX ULSD    $3.3613 DN $.0659

NYMEX Gas      $2.5934 DN $.0553

NEWS

Oil edged higher in a volatile session as technical market indicators signaled to traders that higher prices may be around the corner.

West Texas Intermediate managed to hold above $80 a barrel on Wednesday after swinging through much of the session. Rising US crude inventories and so far lackluster corporate earnings kept gains in check while faith in China’s rebound prodded an overall advance.

At least one technical gauge seemed to vindicate the bulls. WTI’s 25-day moving average is close to crossing over its 50-day moving average, which markets interpret as evidence of longer-term strengthening that often spurs additional buying. 

Oil is largely unchanged for the month after a weak start to the year. The outlook for China and a weaker dollar — which makes commodities priced in the currency more attractive — have helped oil claw back some ground. Traders will be closely watching for signs of increasing Chinese demand once the lunar New Year festivities have concluded.

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 tonight before 23:00 CST have your tanks completely full of fuel, Wednesday prices will jump UP 9 cents BUT Thursday prices will drop over 12 cents ~ Be Safe

Fueling Strategy: For Gasoline Users  – Please don’t fuel tonight Wednesday gasoline prices will drop 5 cents ~ Be Safe

NMEX Crude     $ 80.13 DN $1.4900

NYMEX ULSD    $3.4272 DN $0.1237

NYMEX Gas      $2.6487 DN $0.0478

NEWS

Oil erased gains from the past two sessions as earnings from multiple US companies disappointed, potentially signaling a dour short-term outlook for energy traders.

West Texas Intermediate settled at $80.13 a barrel, shedding almost 2%, the biggest drop since the first week of January. Oil succumbed to broader market pressure after disappointing results from a handful of economic-activity bellwethers, such as Union Pacific Corp and 3M Co., led investors to shun risk.

These results have tempered optimism for the economy in the near-term, said Ed Moya, senior market analyst at OANDA. “That has oil prices giving up some of its recent gains.”

Traders will continue to monitor other earnings for any clues that could identify the economic outlook for China. Coming up, many will be sifting through the results of multinationals like Tesla Inc. , as well as oil giants Chevron Corporation and Exxon Mobil Corporation for a sense of where they see the demand in the world’s largest crude importer, said Moya. 

Oil advanced over the past two weeks on China’s swift pivot away from Covid restrictions, which may spur daily consumption to hit a record in 2023. Still, OPEC and its allies are staying conservative with production, as the group is expected to leave levels unchanged when they meet next week.

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