October At A Glance

By: Daniel Guttman / November 2, 2015

As most sources will tell you, October saw a mixed performance on all spectrums. WTI gained 3.33% and Brent gained 2.46%, while heating oil on the NYMEX fell 0.87% and RBOB fell 1.89%. U.S. rig counts fell from 614 during the last week in September to 578 last week, while crude oil production (9.1 mbpd) was up in October versus September. Additionally, while the U.S. dollar strengthened during the month, showing signs of a bearish market, bullish geopolitical events took place in the Middle East. And one last note, no agreement was made between OPEC and non-OPEC producers to balance the market.  

As for today, it looks like we are going to kick off November on a downtrend. WTI crude is currently trading down $.026 at $46.33, and heating oil and RBOB are both down ever-so-slightly of $.0048 and $.0066 respectively. The three cash markets, NY, Chicago, and Gulf Coast, all show a strengthening on ULSD of roughly two cents across the board. The biggest eye-catcher was an increase on the Chicago CBOB and RBOB, which were up six and eight cents respectively, primarily due to ExxonMobil’s unplanned issues at its refinery in Joilet, Ill.  

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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