Fuel Price Index [05.03.2018]
The size of the crude build caught traders off guard, but was then tempered as most of the build was on the West Coast, bringing prices back to unchanged on the session, but still within shouting distance of $70/bbl. Distillate demand is having its “strongest seasonality” in a very long time, with big numbers in March and April lowering inventories well below the 5-year average.The main focus for the marketplace is still on the geopolitical situation, will all wondering what might happen later this month with regards to the Iran nuclear accord – and then what the fallout (not a pun) might be if the U.S. changes its stance.
Jim Slattery, President
Original Energy
Tel: 914-847-0317
Cell: 347-244-4046
jslattery@originalenergy.com