Storm Update – Hurricane Ian – Level 4 Alert

Although Hurricane Ian is now full disbanded into a scattered weather pattern, recovery efforts are still underway. In Florida, nearly 600,000 electric customers continue suffering power outages, primarily around Ft. Myers. Insurance companies estimate the damage from the storm to be roughly $40-$60 billion, with far more costs stemming from downtime and recovery expenses.

Fuel markets are looking substantially better as a new week begins. All fuel terminals in Florida and throughout the Southeast have reopened, allowing fuel trucks to spread out into more markets and reducing wait times. Although a backlog of orders remains and some markets are still facing carrier constraints, markets are significantly improved. Markets will continue to move towards normal over the course of this week.

Mansfield is moving its operational alert down to Level 4 – meaning Mansfield continues providing the highest level of operational focus in the region, but market conditions are improving and the severe impediments preventing deliveries have passed.

Mansfield is also changing its delivery alert levels to reflect improving market conditions. Florida and the Southeast are being reduced to Orange, requesting 48-hour advanced notice for new order. Virginia continues facing delivery challenges, requiring the Red status and 72-hour notice to continue.

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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