8/19/2015 Market Update

By: Daniel Guttman / August 19, 2015

Tropical storm Danny, according to The Weather Channel, was located roughly 1,445 miles east of the Windward Islands in the eastern Atlantic Ocean as of early this morning. This tropical storm is predicted to strengthen as it moves west-northwest over the next several days and could become a category 1 or 2 hurricane by next week. Potential impacts to the Gulf Coast cash market could occur if this storm continues its path northward.

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RBOB on the NYMEX dropped a few cents yesterday to $1.6270 while the rest of the market was relatively flat in the wake of this week’s EIA report. Last night, the American Petroleum institute showed a draw in crude of 2.3 million bbl, a draw in gasoline inventories of 1.5 million bbl, and a 1.3 million bbl build of distillates. On the contrary, the EIA’s DOE stats, which came out this morning, reported a build of 2.6 million crude, a draw of 2.7 million bbl of gasoline, and a 0.6 million build in distillates.

In addition to the complications happening at BP’s 430,000 bpd refinery in Whiting, which continues to impact the Midwest’s supply of refined product as well as disrupt the Chicago cash market, Phillips 66 is also having refinery issues at their 157,000 barrel/day facility in Wood River, Illinois. Accordingly, Chicago cash market continues to be the most volatile market in the U.S. with RBOB dropping almost 19cts yesterday, yet continues to trade at 74cts over the NYMEX.

Internationally, data published by the Joint Organisations Initiative (JODI) reported that Saudi Arabia crude oil exports rose by 400,000 bpd from May to June, while Japanese crude oil imports were also seen rising 9% in July from a year ago.


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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