Today’s Market Trend

If You Missed It

If you missed our market update webinar yesterday, don’t worry. It’s available on-demand.

If you’re too busy for the whole webcast, zoom forward to 30:21 to hear the Q&A. It’s worth it.

Click Here.

Oil Prices

Oil prices continue their pursuit of higher prices. Markets began with some early gains this morning, with crude oil up 76 cents to $66.27. At this point markets have fully recovered from their February decline, and are approaching three-year highs once again. With the threat of Chinese trade barriers beginning to calm, markets are back to watching fundamentals and risk factors, which point to higher prices for the year.

Refined fuels are also picking up steam, with both gasoline and diesel trading well above $2/gal this week. Early this morning, diesel prices were up an additional 1.38 cents to trade at $2.0786. Gasoline has been of to a slower start, gaining just 0.3 cents this morning to trade at $2.0434

The API released their weekly data, showing that crude and gasoline stocks rose while diesel inventories fell. We’re still at a time of year when crude builds are the seasonal trend, so markets aren’t too worried about the builds. Additionally, the API has tended to have some big variances to the EIA statistics, so markets generally react more strongly to EIA data than to the API.

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
Make a Call

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

800.695.6626

Send Email

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

Send Email

Find a Location

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

View Locations

Get a Quote

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