And Now... We Wait

By: Daniel Guttman / October 26, 2015

Last week marked the first time in October that WTI crude fell below $45/bbl, and this morning it is currently trading down $0.56 at $44.03. RBOB is trading down $.0073 at $1.2963/gal and heating oil is also down $.0174 at $1.4370/gal. The Midwest markets seem to be fully operational once more. As the majority of refineries exit turnaround, which had plagued these markets in the early fall, product is now long. Concurrently, the Chicago cash market has seen a decrease of nearly 25 cents in the last week on ULSD, attributed to refiner selling, while CBOB and RBOB have both strengthened by nearly 19 cents and 9 cents respectively. NY Harbor on the other hand has seen some recent refiner issues. ULSD has strengthened 2 cents, CBOB 4 cents and RBOB 4 cents. The higher cash diffs should be short term due to plenty of accessible product in tanks.

Market watchers should keep their eyes and ears open this week. We are currently awaiting a United States Federal Reserve decision on interest rates yet again, and information and data regarding U.S. GDP (Gross Domestic Product) for the third quarter should be coming out this week as well. 


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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