9/01/2015 Market Update

By: Daniel Guttman / September 1, 2015

Manic Market Monday would be a great way to describe how the day went yesterday. Crude has managed to rally 25% in just three days. This three-day rally is the strongest seen since Iraq’s invasion of Kuwait in 1990. The market is correcting itself today, however, with diesel and gas both coming off 11 cents this morning. Reuters reported that the “movements appear to be largely technical, but the extreme three-day rally may have sparked worries among market participants that prices are advancing rapidly without any significant changes in the market.”

On 2/27/15, front month heating oil traded at a high of $2.3514.  On 8/26/15, front month heating oil traded at a low of $1.3745, for a decline of $.9769 in 6 months.  Three days later on 8/31/15, front month heating oil traded at $1.6865, a $.3120 bounce or 32% rebound in 3 days.



The chart above shows the 25% jump from late last week into this morning, from mid $30’s to high $40.00’s. Crude has now dropped $3.50 today to recover from the surge. As stated, back in 1990 was the last time we witnessed a spike of this intensity.

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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