800-899-0747

Mixed Bag in the Markets

Main Image
Daily Settlement Prices

Markets were a mixed bag on Tuesday. Across the board losses were seen early in the day, as the downward momentum continued. Interestingly, the early losses on the front month RBOB contract pushed its value to the lowest point it has seen since March 4th. However, this movement was tempered on the products side. The recent decline brought back renewed buying which ultimately brought the products into the green for their settle. Despite this small bounce in the ULSD and RBOB contracts, WTI settled lower on the day and finished below $43. This marks four straight days of losses for front month WTI, and losses in six of the last seven trading sessions.

The market was slightly lower late in the day, after the release of the API’s weekly inventory numbers. Crude oil inventories were reported as a draw, but less so than the expected amount, which was still not the bullish draw expected. On the products side, distillate inventories had a small build just shy of 300,000 bbls, while the gasoline stocks saw a small draw of just under 500,000 bbls. The market will now look to today’s Department of Energy’s mid-morning release of their weekly inventory levels.

Gulf Coast markets were higher for both gasoline and diesel yesterday. News of refinery issues, along with a scheduling day for the Colonial Pipeline system, brought the market higher. On the day, ULSD basis finished up about 75pts and gasoline was up a penny plus.

Published by PAPCO, Inc. (PAPCO)

PAPCO Newsletter Disclaimer. The information that is published in this newsletter, including the market reports, is derived from trade, statistical, and other sources that we believe are reliable and accurate. However, PAPCO does not guarantee the completeness, accuracy, or reliability of such information, and information should not be relied upon as such. Additionally, PAPCO assumes no responsibility for the material contained in the newsletter and the views expressed therein. Further, PAPCO expressly disclaims any express or implied warranties or guarantees with regard to such information. The information contained in this newsletter and any views expressed herein are provided for your informational purposes only and should not be interpreted in any way as an offer, invitation to make an offer, inducement, or recommendation to buy or sell options contracts, commodity futures, products, or any other type of security.


0 Comments

0 Comments :

Post Comment

*
*
*
*
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