800-899-0747

Today's Fuel Market Report

Main Image
Markets followed through on the previous day's weakness, to finish lower across the board. Several small factors led to the downward pressure on Wednesday. Market participants are now less optimistic about an OPEC out freeze (or even how effective this would be with Saudi Arabia already producing at record levels). Further, the U.S. Dollar moved higher yesterday, reaching its highest level since August 9th, which exerted downward pressure on commodity prices. Read more

0 Comments

Storms by Many Other Names

Main Image
Oil prices settled lower on Monday, weighed down by a sloppy RBOB market and the lack of a bullish catalyst. The NYMEX RBOB market settled down four cents, but cash markets in the Gulf Coast and Midwest were even weaker, as it appears the still not-named-yet-but probably-will-be-named-though-not-really-a-threat storm will button hook right around Florida and dump lots of rain on the Panhandle rather than Gulf Coast refining assets. Read more

0 Comments

Oil Markets: Is This the Calm Before the Storms?

Main Image
The oil market ended a relatively uneventful week uneventfully. That even though Fed Chairperson Janet Yellen's speech in Jackson Hole, Wyoming suggested interest rate hikes are very much on the horizon in the United States. Using the term "full employment", Ms. Yellen's remarks have led most financial gurus to believe the Fed may raise rates by the end of the year (for the first time in a year). Read more

0 Comments

Oil Complex on a Late Summer Standby

Main Image
Oil prices posted moderate gains on Thursday, recovering from Wednesday's decline but staying near the top of the recent trading range. Certainly recent market sentiment has been to the upside, with some anticipation of real OPEC action at the cartel's informal meeting in a month. For now, it seems like Iran will attend and rhetoric from that camp has been price supportive. Still, with a few failed attempts to make a real run at $50 (peaks at $48-ish), and with summer driving season nearing an end, it seems a bit premature to get extremely bullish on oil. For now, WTI seems to be content to stay in a few dollar range just north of $45. Read more

0 Comments

Bulls Ease Back on the Reins Add to Market Fundamentals

Main Image
The oil market settled lower on Monday, ending an extended upward streak that added seven dollars to WTI and roughly 20-cents to the finished products. This due to profit taking and on news that a cease fire (for now) had been reached in Nigeria. Lost Nigerian oil production (along with that from Libya, Canada and others) has helped keep a floor on any significant price pull back. That said, the very recent "peace accord" between Government forces and rebels could start the process of ramping up production in that region. Read more

0 Comments

Today's Fuel Market & DOE Report

Main Image
A bullish Department of Energy (DOE) inventory report was just another reason for the recent renaissance to continue, as oil prices again edged higher to post new, six-week highs. Oil has risen by seven dollars off of its "summer blahs" low, and with the Calendar 2017 WTI strip now above $50, there might be enough incentive for producers to begin hedging next year's production. Near term price action will again be dictated by macro news (OPEC) and by investment money flow (in this instance, short covering). The September WTI contract, which expires Monday and thus is winding down in trading action, is very near a strong resistance level ($46.80); if it breaks through that number, it might be a fairly quick run to $50. Read more

0 Comments

Today's Fuel Market Report

Main Image
Oil prices moved higher for fourth consecutive day on Tuesday, overcoming a sluggish start to post the highest closing market in over a month. Momentum buying (or, perhaps, short covering) has been the rallying cry of late, as September WTI has gained roughly five dollars from this time a week ago. The market will look towards the Wednesday morning Department of Energy (DOE) report to its next indicator. In addition, the September WTI contract expires on Thursday, and trading focus will soon shift to the October contract. Read more

0 Comments

Today's Fuel Market Report

Main Image
Oil prices settled higher for the third straight day, continuing the market's momentum that began in earnest late last week. Since the Saudi Arabian oil minister called for an informal, late September producer summit (non-OPEC members are invited), the front month WTI contract has risen by more than four dollars (ten percent), with market participants perhaps anticipating a greater likelihood of production cutbacks in the near future (since the Saudis initiated this meeting). The recent rise has certainly seen some short covering by market bears, but, with growing open contract interest, there is probably some new, fresh, bullish length boosting the market. Yesterday, September WTI was up $1.25 (settled $45.74), the third consecutive day of dollar-plus gains in the front contract. Read more

0 Comments

OPEC and Rig Counts and Storms

Main Image
The energy markets started Friday on softer footing then quickly turned and followed the recent upward momentum. Markets continued to concentrate on renewed talks of an OPEC supply-focused meeting in September. Despite little probability of any agreed upon action, or even minimal effectiveness of such an action, markets participants took this as a profit taking sign in an overall bearish market. Read more

0 Comments

Saudi Headlines Spur Bullish Action

Main Image
Oil prices moved sharply higher on Thursday, as buyers reacted bullishly to comments by the Saudi Arabian oil minister about the possibility of future OPEC production cuts. While past words by OPEC members about the need to reduce output have been commonplace, the headlines made by the Saudis was certainly more noteworthy. To that end, there is a meeting scheduled for late September in which both OPEC and non-OPEC members will attend. Such news was met with fevered buying, though equity markets were also well bid during the day (with U.S. markets reaching all-time highs). The finished products (RBOB and Heating Oil) posted even greater gains. Cash markets in the Gulf Coast were supported by two noted refinery problems, including a massive fire at the Motiva Convent, Louisiana refinery. Read more

0 Comments
Commercial Price Risk Mgmt Lubricants Retail Home Heat About Us
Government
Wholesalers
Fuel Products
Services
Consignment
Marine
Propane
DEF
Fleet Card
Energy Markets
Manage Risk
Custom Solutions
6 Easy Steps
Pricing Tools
Weekly Updates
Commercial
Industrial
Passenger
Marine
Equipment
Inventory Mgmt
Branded Fuels
Unbranded Fuels
Custom Solutions
Site Development
C-Store support
Inventory Mgmt
Pricing & Incentives
Delivery Options
Service Programs
Propane
Price Protection
Discounts
Home
Service Areas
SDS (MSDS)
News & Events
Careers
Contact Us

Sign up for
Email Updates

800-899-0747
757-499-5977

4920 Southern Blvd
Virginia Beach, VA 23462

© Copyright 2019
PAPCO, Inc.

Site Map
Privacy Statement
Terms & Conditions