Fueling Strategy: Please top tanks before 23:00 CST, Friday AM wholesale prices will go up 1.5 cents – Be Safe Today!

NYMEX Crude $ 44.74 DN $.3500
NY Harbor ULSD $1.5198 DN $.0176
NYMEX Gasoline $1.3668 UP $.0001

NEWS
Oil futures finished lower on Thursday, under $45 a barrel with global manufacturing data and a Category 4 hurricane among the factors weighing on prices.

A gauge of Chinese manufacturing activity rose more than expected last month but in the U.S. and Europe, manufacturing activity fell in September. Meanwhile, a hurricane in the Atlantic threatens to shutdown some refinery activity, which could contribute to higher crude supplies. “Crude prices rallied overnight on better-than-expected manufacturing numbers out of China, only to see this positive sentiment unwound as the corresponding prints out of Europe and the U.S. were lackluster,” said Matt Smith, commodity analyst at ClipperData.

Atlantic Hurricane Joaquin, meanwhile, may be raising worries about refinery output and crude supply and demand. If the hurricane “maintains its current trajectory, refineries in New Jersey, Pennsylvania, and Delaware will likely have to be shut down—for fear of flooding or damage,” said Smith. “The real bearish influence for oil comes from the potential of power cuts. This would limit oil demand in the Northeast due to refinery closures,” he said. And “power cuts would impact pipeline flows from the Gulf [of Mexico], while imports into NY Harbor would be delayed.”“So in a nutshell: bearish for oil, bullish for gasoline, but transitory for all,” said Smith. November gasoline settled about flat at $1.367 a gallon after earlier losses, while November heating oil ended at $1.52 a gallon, down 1.8 cents, or 1.1%.

Over in Syria, Russia launched its first airstrikes Wednesday. The intervention added to the uncertainty in the Middle East, the world’s biggest oil-producing region. The geopolitical concerns prompted an earlier climb in oil prices, said Tim Evans, chief market strategist at Long Leaf Trading Group. But “the headwinds bulls are facing is strong,” Evans said. “Risk aversion in the overall market [is] creating selling pressure in energies and other commodity sectors.” “Supply and demand fundamentals remain weak,” he said. “I do not expect anything dynamic to develop on the upside in crude unless this geopolitical spirals out of control more regionally.” Traders await monthly U.S. employment data due Friday, which may influence the Federal Reserve’s decision on interest-rate hikes and moves in the U.S. dollar.