Good morning!

I just wanted to take a quick moment and wish everyone a safe and happy 4th of July!  It’s going to be a hot one!  🙂  Also, I wanted to thank all our customers for thier business through the first half of the year!  Hard to believe that 2025 is half over!

I’m going to keep the update short and sweet.  Markets are always a bit wonky the week of holidays as traders take time off causing low liquidity.  Crude prices have been trading between $65-67/barrel.  Tariffs are getting worked out, the US economy looks good, but the dollar is losing value.  All of the these events are supporting crude oil prices.  However, OPEC meets over the weekend and expectations are for increased exports.  So far oversupply of crude oil in the world market seems to be keeping a lid on oil prices.  After the holiday weekend we will have a better idea of where things are heading.

Gasoline prices held this week so I don’t expect too many changes at the pump for the travel weekend.  However, diesel prices again jumped another 20+ cents/gallon this week on tight supplies.  Diesel inventories continue to be constrained.  I believe diesel prices will continue to be volatile throughout the next month or so.  Propane prices are holding steady with healthy inventories.  I still recommend topping off your tank this summer and contracting some gallons for the upcoming heating season.

Again, I hope everyone has a safe and happy 4th of July, and I will explore the markets in more detail next week after traders return to their desks.

Best regards,

Jon Crawford