800-899-0747

Fuel Market & Storm Update

091318 Land PAPCO Settle


Prices eased today, offsetting some of the strong gains from early in the week, as the East Coast braces for Hurricane Florence. Wednesday’s inventory summary was fairly neutral, with a large draw in crude oil stocks met with builds in the products. Finished product demand was softer, a bit unusual given that the data included Labor Day weekend, but recent reports had shown extremely strong demand results.



OPEC also suggested that global oil demand was slowing down. This didn’t directly refute the International Energy Agency’s earlier report that suggested global oil supply was shrinking, but it was certainly a more bearish headline. In general, the steep drop was probably related to some short term selling after the early week price advance.



Hurricane Florence’s path continues to change and to mystify. It now appears that the storm will head inland for a bit before turning right and heading up through central Virginia (after a few days). This is a significantly different path from previous reports, which had Florence going more South and through Georgia (as a tropical depression). Many oil terminals through North Carolina, South Carolina and Georgia have shut, or will soon be shutting. So far, Virginia terminals appear to be staying open. Pipeline operations are running normally, though we are starting to see some delays in deliveries.


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