800-899-0747

Calm Before the Storm?

Main Image
Daily Settlement Prices

Overnight Wednesday and into Thursday morning the energy market was weaker, as participants took a break from Wednesday's torrid pace. However, despite some seeing the OPEC news as a non-event, during U.S. market hours on Thursday, prices were pulled higher again.

Outside of October RBOB, which expires today (along with October ULSD), the rest of the futures finished in the green. For reference, yesterday the November ULSD contract reached its highest price level since August 26th; however, Thursday's trading volume in the contract did not match the prior two days. We can expect elevated levels of volatility in the market, as rumors will continue to be pervasive leading up to the November 30th OPEC meeting. 

WEATHER BULLETIN

Hurricane Matthew in the Caribbean escalated to a Category 2 Hurricane with maximum sustained winds of 100 mph at 2:00am this morning. It has continued to intensify and it at 105 mph, the National Hurricane Center projects Matthew to become a Major Hurricane (Cat 3 or higher) within the next 24 hours. Matthew is intensifying and projected to continue to do so in a historically unfavorable stretch of the Caribbean, which helps to depict the potential of this storm. The storm is working its way west and it expected to slow down to a crawl at which point it will turn northward which is where the uncertainty enters the mix. (see map)

The ultimate path of Hurricane Matthew can depend on how long it hangs in the Caribbean and it lets the path formulate. At the risk of getting too deep into the weeds, there are two ridges at play one over the Midwest section of the U.S. and one in the center the of the Atlantic Ocean. The ridge over the US is moving south while the ridge over the Atlantic is moving west. The further west the ridge moves the more Matthew will be pushed toward the East Coast.


Hurricane Matt Path

 


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