The Fourth Jonas Brother's Debut

By: Angela Agostinone / January 20, 2016

Yesterday, WTI crude closed down $0.96/bbl to $28.46, HO closed down $0.0256/gal to $ $0.9087, and RBOB finished up $0.0050/gal to $1.0262. Today is no different from the recent trend, HO is currently trading down over $0.04/gal and RBOB down about $0.01/gal. WTI crude has hit below $27/gal. The market is currently awaiting the release of the API reports later today, and the DOE statistics tomorrow. Due to the holiday on Monday these are pushed back a day.

American consumers have been seeing gasoline around or below $2/gal, making everyone very happy except the major U.S. refiners.  Bloomberg reports, with the price of oil continuing to fall, refining margins or crack spreads are also narrowing.  The last quarter in 2015 had the steepest decline in refining margins in eight years.  As prices continue to drop lower in 2016, it will continue to put pressure on the profit for the large refiners.

The latest reports show Winter Storm Jonas will hit the North East sometime Friday and will last into Sunday.  The image below indicates how much snow is expected for the area effected.  This first winter storm of the year could help boost demand for heating oil. 

Jonas

 

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Note: The 


Categories: Daily Market Update


Angela Agostinone

Written by

Angela Agostinone

Angela manages daily price changes from suppliers to ensure Guttman Energy customers are getting the most current and competitive rack prices. She is also responsible for relaying supplier product allocations to Guttman Energy's sales and logistics team, as well as analyzing specific benchmarks such as OPIS, Platts, and Argus to ensure each customer is getting the greatest value from their contracted fuel purchases.


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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