X

Market Close: May 17 Up

Fueling Strategy: Please fuel as needed today/tonight – Be Safe
NYMEX Crude    $ 66.27  UP $.9000
NYMEX ULSD     $2.0604 UP $.0242
NYMEX Gas       $2.1583 UP $.0317
Please check the following links to make sure your scheduled fuel stop along your route has fuel.

NEWS

Oil climbed to the highest in two years with optimism building around the comeback of fuel demand in regions such as the U.S., even as Covid-19 flare-ups persist in parts of Asia.

Futures in New York advanced 1.4% on Monday to the highest since April 2019. The U.S. and China, along with parts of Europe, are rapidly recovering from the pandemic as vaccinations increase, overshadowing concerns around weaker consumption in India. In the U.S., the number of passengers at airports jumped to the highest since the pandemic began, a sign of the domestic travel revival that’s leading the way in a jet fuel demand rebound.

For the U.S., “the consensus is building around a very strong summer demand period,” said John Kilduff, a partner at Again Capital LLC. “The supply and demand balance is going to be a little short as we get deeper into the year,” supporting prices. Oil’s rally of more than 4% this month comes as even the hardest-hit parts of the oil market — namely, jet fuel — are showing signs of a revival. The number of people passing through Transportation Security Administration checkpoints at U.S. airports surged to 1.85 million on Sunday — the highest since March 2020 — pointing to the recovery in domestic U.S. air travel that’s seen underpinning a summer surge in jet fuel demand. United Airlines Holdings Inc. on Monday said it plans to operate 80% of its pre-pandemic U.S. schedule.

 

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.