After another run up on WTI price this week, the rally has taken pause to wait on the results of the G-20 meeting this weekend and OPEC next week. WTI has reached $59/barrel after a massive draw down in crude supplies here in the US. In addition, most traders are expected to see OPEC continue with supply cuts. The US announced that China has agreed to terms on a trade deal and the details will be released soon. All of this news is holding WTI at current levels. For now, markets are taking pause and a “wait and see” approach is currently in place.
Local gasoline prices have continued to rise and will probably continue into the week of the 4th. Diesel prices have climbed as well. Prices at the pump will hold until the world meetings next week are completed.
Propane prices are continuing to stay low! Please contact us now for a summer fill. Also, contract prices for next heating season will be released next week.
As always, if you have any questions, comments, or concerns, please feel free to give us a call.
Jon Crawford – Pres.