High and Tight

By: Daryl Milliner / November 9, 2017

With gasoline and distillate stockpiles at tight levels, refiners will need to adjust accordingly to accommodate rising demand. Heating oil consumption is expected to rise, along with winter temperatures on a long term basis however, if temperatures are colder than average, stockpiles could be tighter then expected. As gasoline and distillate prices increase more swiftly than crude prices it is a sign for refiners to innovate and increase crude processing.blog pic.png

Prices are high and climbing at levels we haven’t seen in two years, as investors and traders keep a close eye on growing geopolitical tensions in the Middle East. Reports are saying that Saudi Arabia is urging their citizens to leave Lebanon amid speculation of an attack. This price boost has also been attributed to unconfirmed rumors that Saudi King Salman would pass down the crown to his son Prince Mohammed Bin Salman. As this news can be informative and thought provoking to investors, it is important to keep focused on data at hand which really is what drives our markets. Per yesterday’s stats with the surprising build in crude and fall in distillates and gasoline gives refiners an incentive to maximize production efforts. On the NYMEX, WTI Crude for December rose 0.81% to 57.42 a barrel exceeding record high levels on Monday. December RBOB Gasoline up 0.27% traded at a 1.826 per gallons while December Heating Oil jumped 1% to a 1.941 per gallon.

 


Categories: Daily Market Update


Daryl Milliner

Written by

Daryl Milliner

Exemplary customer support and relationship building are my focus. I strive to use all my knowledge and resources to ensure customers’ fuel operations are run seamlessly and efficiently. Keeping customers informed and satisfied is my highest priority.


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.


Comments

Subscribe to our blog

Price Feed

Stay up-to-date on current fuel prices and market trends with our NYMEX price feed (15 minute delay to the live market).

© 2018 Market data provided and hosted by Barchart Market Data Solutions. Fundamental company data provided by Morningstar and Zacks Investment Research. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer.

Categories

Contact Us