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Market Close: Jan 29 Down

Fueling Strategy: Please fuel as needed this morning, tonight partial fill only due to Saturday prices will drop one penny – Be Safe
NYMEX Crude    $ 52.20 DN $.1400
NYMEX ULSD     $1.6004 DN $.0013
NYMEX Gas       $1.5725 DN $.0104
NEWS

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 6 to 384. The oil and gas rig count has risen for ten weeks in a row for a total gain of 74. The oil rig count increased by 6 this week, while the number of gas rigs remained unchanged. The number of miscellaneous rigs also remained unchanged. Total oil and gas rigs in the United States are now 406 less than this time last year.

The EIA’s estimate for oil production in the United States fell for the first time in six weeks for the ending January 22, to 10.9 million barrels – still 2.0 million bpd off the all-time high reached last March.

Canada’s overall rig count increased this week as well, by 2. Oil and gas rigs in Canada are now at 174 active rigs and down 73 year on year. The Permian basin saw an increase in the number of rigs by 4 this week, bringing the total active rigs in the Permian to 192, or 214 below this time last year.

WTI and Brent were both trading up on Friday on significant inventory decreases this week, combined with a weaker U.S. dollar.

Have a Great Day,
Loren R Bailey, President
Fuel Manager Services Inc.
“Serving the trucking industry since 1992”
Office: 479-846-2761
Cell: 479-790-5581
www.FuelManagerServices.com
www.owneroperatoradvisoryservice.com
“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.”
Categories: Fuel News
loren: Fuel Manager Services Inc. "Serving the trucking industry since 1992" I've been in and around the trucking industry for 45-years beginning in owner operator operations at Willis Shaw Express. I bought a small trucking company that I ran for 6-years then sold and went to work for J.B. Hunt Transport in 1982. After 10-years with Hunt, I started Fuel Manager Services, Inc., we are in our 29th year of serving the American trucking companies. Our simple goal was and is to bridge the gap between the trucking companies and the fuel suppliers.