800-899-0747

Today's Fuel Market Report: A Bit of a Balancing Act

Main Image
Daily Settlement Prices

Oil prices edged higher on Thursday, closing higher for the first time this week on news of yet another OPEC-related headline that indicated several key members of the cartel have voiced support of a production cut. If these reported headlines and rumors have become tiresome, it further highlights the uncertainty and unintended comedy in the market.

December WTI closed 54-cents higher on Thursday (settling $49.72), up about a dollar so far this month (hovering in a range around $50 for the better part of it). RBOB and Heating Oil also posted minor gains on the day, and those contracts are up a few cents each this month as well. The November RBOB and HO contracts expire on Monday.

Colonial Pipeline continues to re-balance its shipping schedule after the pipeline leak that disrupted deliveries for the better part of September. The next two gasoline cycles (CPL cycle 60 and 61) have been cut by 20% and two gasoline cycles in December (CPL cycles 68 and 69) have been eliminated altogether. Colonial hopes that these reductions will spread out deliveries throughout the system, after an extended period that saw lack of supply followed immediately by too much of it.

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