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.

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