Strong Jobs Report not Driving 'April Fuels' Today

By: Lindsay Farrell / April 1, 2016

The Fed released a strong U.S. jobs report this morning, despite the lull in global growth.  The report showed an increase in both employment and wages in March.  Nonfarm payrolls increased by 215,000 while the unemployment rate rose slightly from 4.9% to 5%. This minor increase, caused by more people entering or re-entering the job market, is a sign of increased confidence in the labor market.  Despite the strong report, the Fed is expected to remain cautious in raising interest rates likely due to the slowing global growth. 

In spite of the positive economic news, the market is down today.  This is likely due to a comment by the deputy crown price of Saudi Arabia that the Kingdom will not participate in a production freeze unless Iran and other producers agree to the freeze.  This news follows a statement by Russia’s Energy Minister that he expects the meeting attendees in Doha will agree to the proposed oil freeze.

Yesterday crude closed up $1.02/bbl to $38.34, RBOB closed down $0.0099/gal to $1.4265, and HO finished down $0.0251/gal to $1.1848.

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Categories: Daily Market Update


Lindsay Farrell

Written by

Lindsay Farrell

As Manager of Quality Assurance and Regulatory Compliance, Lindsay Farrell is responsible for fuel operability across the company’s terminals and customer sites, as well as keeping up-to-date with the latest regulations and best practices within the industry.


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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