Market Close: April 10 UP, Diesel UP $.0386, Gas UP $.0276
Apr 10th, 2024 by loren
Fueling Strategy: Please “PARTIAL FILL ONLY” tonight, Thursday prices will drop another 5 cents ~ Please Be Safe
NMEX Crude $ 86.25 UP $1.0200
NYMEX ULSD $2.7156 UP $0.0386
NYMEX Gas $2.7832 UP $0.0276
NEWS
May WTI crude oil on Wednesday closed up +1.02, and May RBOB gasoline closed up +2.76. Crude and gasoline prices Wednesday recovered from early losses and posted moderate gains after US intelligence said it believes a major missile or drone strike is imminent by Iran or its proxies against military and government targets in Israel. Iran has said it will launch some type of attack on Israeli assets as revenge for the recent Israel airstrike on Iran’s consulate in Syria that killed some top Iranian military commanders. An escalation of hostilities in the Middle East could lead to the disruption of crude supplies from the region.
Crude prices Wednesday initially moved lower, with crude falling to a 1-week low after the dollar index soared to a 4-3/4 month high. Also, today’s slump in the S&P 500 to a 3-week low undercuts confidence in the economic outlook, which is bearish for energy demand and crude prices. In addition, Wednesday’s weekly EIA crude inventories rose more than expected to a 9-month high. Reduced crude demand in India, the world’s third-largest crude consumer, is negative for oil prices after India’s March oil demand fell -0.6% y/y to 21.09 MMT.
Have a Great Day!
Loren R Bailey, President
Office: 479-846-2761
Cell: 479-790-5581
SCHEDULED OUT OF OFFICE
JUN 06 VACATION LEAVE AFTER LUNCH
JUN 10 RETURN/ARRIVE 1300
Tell Us How We’re Doing On Google Business
https://g.page/r/CUyL9wDolv04EAI/review
As always, thank you so much for being a part of the Fuel Manager Services, Inc. family, and we look forward to making this the best year yet!
“Celebrating 31-years of Service Excellence”
“Coming Together is the Beginning; Keeping Together is Progress; Working Together is Success” ~ Henry Ford