Category 5 Hurricane Irma to hit Florida

By: Daniel Guttman / September 7, 2017

One may be growing tired of hearing about hurricanes these past few weeks, but Irma’s potential to destroy parts of Florida isn’t something you can ignore. Category 5 Hurricane Irma is set to hit Florida directly on Saturday.  Monroe County’s 80,000 residents, part of the Florida Keys, were ordered to evacuate on Wednesday morning.  Irma has plowed through many Caribbean islands and has already left at least 10 people dead.  Hurricane Irma is said to be the strongest Atlantic hurricane since Wilma in 2005 and has the potential to carry that strength up the Atlantic coast into Georgia and South Carolina. 

Also to keep an eye on are the two other named storms hanging out in the Atlantic and the Gulf. Hurricane Jose, which is said to be “quickly strengthening”, and Hurricane Katia, currently a Category 1.

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APIs came out yesterday afternoon showing some effects of Hurricane Harvey, but not as much as traders anticipated. They showed a build in crude of 2.8 million bbls, a draw in gasoline of 2.5 million bbls, and a draw in distillates of 600,000 bbls.  DOE’s Weekly Petroleum Status Report came out today at 11:00 a.m. EST showing a build of 4.6 million bbls in crude, a draw of 1.3 million bbls in distillates, and a draw of 3.2 million bbls in gasoline. 

Regular gas prices at the pump have continued to be greatly affected by Hurricane Harvey and are up 23cts/gal from a week ago. Currently as of 11:42 a.m. EST front month RBOB is trading lower by $0.0255 to $1.6478/gal and front month HO is trading higher by $0.0105 to $1.77/gal.  For now, we continue to keep an eye on all hurricane activity and the disruptions they may bring upon the energy sector.

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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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