10/1/2015 Market Update

By: Daniel Guttman / October 1, 2015

The EIA’s Weekly Petroleum Status Report was released yesterday. There was a build of 4 million barrels on crude inventories. The EIA stated that for refined products, gasoline built by 3.3 million barrels and distillate drew by 267,000 barrels.

Along with the bearish data published in the EIA statistics the big market movers today are the conflict escalation in Syria and the looming prospect of Hurricane Joaquin. The global news out of Syria is that Russia launched airstrikes yesterday and President Putin has stated that they will back the current ruling powers against the wishes of the United States and their allies.

The path of Hurricane Joaquin is still uncertain but heavy rain, including potential flooding is expected along the east coast. There may be potential supply disruptions similar to previous east coast hurricanes, therefore product price escalations are expected. Below is a map of the current hurricane advisories provided by NOAA.




Categories: Daily Market Update

Daniel Guttman

Written by

Daniel Guttman

With a background in wholesale and commercial sales as well as pipeline scheduling, Daniel is currently the Manager, Business Development in the Card Access Fuels department. He is tasked to find new and innovative solutions to increase sales opportunities for the sales team while managing and evaluating internal department processes. He assists with day to day personnel management, customer data analysis, as well as the daily Pacific Pride inventory and pricing direction.

Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.


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