Partial Trade Deal? Not Yet…

NYMEX Pricing October 14, 2019

Oil prices are trading lower this morning. Crude oil this morning is trading at $53.45, down $1.25.

Fuel prices are also down this morning.  Diesel is trading at $1.9260, down 3.2 cents.  Gasoline is also trading lower at $1.6087, a loss of 3.0 cents.

Crude prices are down Monday morning after Friday’s gains.  On Friday, news of a partial trade deal between the U.S. and China helped to spur markets higher.  That positive sentiment was tempered this morning by news that China wants further talks before signing part one of the trade deal.  Crude is down 2% in early trading Monday morning.

Last week the EIA released its Winter Fuels Outlook.  In the report the EIA stated that they expect temperatures for the winter of 2019–20 to be warmer than last winter for most of the country.  While winter is expected to be warmer overall, sudden cold snaps are possible.  Those regions of the country prone to colder weather should be prepared with winter diesel and emergency kits to prevent and reverse gelling of filters.

NYMEX Pricing October 14, 2019

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.

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