Demand Concerns Weigh on Markets

Last week, WTI Crude finished with its fifth straight week of weekly gains.  It finished up $1.78 on Friday to close out the week.  Crude markets are feeling downward pressure this morning as investors consider demand threats from unrest in the US and deteriorating US-China relations.  Also being weighed is the possible continuation of OPEC+ production cuts.

OPEC+ is considering moving up its meeting by a few days to June 4th. At the meeting they will deliberate on whether to extend production cuts from one to three additional months to help balance the crude market.  Recently Russia has been vocal about wanting to bring production back online in accordance with the original OPEC+ proposal.

In early trading today, crude prices are up. Crude is currently trading at $34.68, a loss of 81 cents.

Fuel prices are down this morning. Diesel is trading at $1.0204, a loss of 1.6 cents.  Gasoline is trading at $1.0688, a loss of 1.0 cent.

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Give Us a Call Today

We are happy to discuss your business challenges over the phone and answer any questions.

800.695.6626

Send Us an Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Mansfield Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote Today

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote