Fueling Strategy: Please “PARTIAL FILL ONLY” today/tonight, Wednesday prices will drop 4 cents ~ Please Be Safe

NMEX Crude      $ 85.32 DN $.0900

NYMEX ULSD     $2.6535 DN $.0007

NYMEX Gas       $2.8163 UP $.0324

NEWS

May WTI crude oil on Tuesday closed down -0.09, and May RBOB gasoline closed up +3.24. Crude and gasoline prices on Tuesday settled mixed.  Tuesday’s rally in the dollar index to a 5-1/2 month high weighed on energy prices.  However, losses in crude were limited by Middle Eastern geopolitical risks as the markets await any response from Israel to Iran’s weekend drone and missile attack against Israel.

Crude oil prices are supported by Israel-Iran tensions.  Top Israeli military officials said Monday that their country has no choice but to respond to Iran’s weekend attack.  There are hopes that any Israeli retaliation will be limited and will perhaps conclude the latest round of tensions that began with Israel striking an Iranian consulate in Syria and killing some top Iranian military generals.

A bullish factor for energy demand and crude was Tuesday’s action by the International Monetary Fund to raise its 2024 global GDP forecast to 3.2% from a 3.1% forecast in January. 

Have a Great Day!

Loren R Bailey, President

Office: 479-846-2761

Cell: 479-790-5581

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