WTI Holds Above $60/Barrel

Good morning!

Happy Friday!  So WTI closed above $60/barrel this week and held.  The move higher is being mostly blamed on sentiment and not fundamentals.  In addition, trading volume is light at the end of the year, so I have caution that this will hold into 2020.  All eyes are on trade deals, the FED, and end of year economic data.  For now, I always tell people to close their eyes, enjoy the holidays, and we will revisit after New Year’s.  🙂

In local news, gasoline prices continue to have a wide range across the market.  Retail prices on gasoline are ranging from $2.19 – 2.59!  Diesel prices are holding steady below $3/gallon and I expect to see that trend continue.  Hopefully we will see these lower prices through the holiday travel season.

Propane prices dropped off a bit with ease in supply problems.  In addition, warm weather is on the horizon which is putting a lid on price increases.  Propane prices are truly following the price of crude, but supply fundamentals are keeping propane in check.  If you are a will-call customer, please make sure to call when your tank is around 30%.  We are very busy this time of year and we want to ensure efficient delivery to your home.   🙂

As always, if you have any questions, comments, or concerns, please feel free to give us a call!

Best regards,

Jon Crawford – Pres.

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