Let's Get It Flowing Again

By: Greg Gill / November 22, 2016

Egypt’s Oil Minister, Tarek El Molla, is currently attending the International Arab Conference for Mineral Resources. He was invited by the Saudi Arabian oil minister Khalid al-Falih, to discuss suspended oil shipments.

Last month Saudi owned oil company Aramco halted shipments of fuel to its neighbor Egypt, after Egypt backed separate Russian and French draft resolutions on Syria at the UN Security Council in October, which did not make the Saudis very happy.

The market is currently down on both Heating Oil and RBOB on the NYMEX (-$0.0110 on HO and -$0.0045 on RBOB) .WTI crude is trading down -$0.76.

What else is going on in the world of oil?

  1. Oil prices are not showing much movement, after reaching the highest level for November
  2. Khalid Al-Falih urges Trump to not stop Saudi oil imports
  3. U.S. crude inventories have been building for three straight weeks but were forecast to have slipped about 300,000 last week, ahead of data from the American Petroleum Institute at 4:30 p.m. (Reuters)

Capture6.png


Categories: Daily Market Update


Greg Gill

Written by

Greg Gill

I’m passionate about fully understanding my customers’ fuel operations and the fuel markets in which they operate. I want them to view me as their fuel expert. To develop strong, trusting partnerships with customers, I have to provide them with meaningful and timely information to ease the challenges of making smart fuel decisions, allowing them to focus on their core business.


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