Good morning!
Happy Friday! I’m going to keep this update fairly short since end of year is a low liquidity market and not very efficient. Crude oil prices dropped back below $70/barrel this week due to continued bearish sentiment. The market is still betting on weak demand and supply surplus in 2025. Local prices of gasoline and diesel have also sold off a bit due to healthy inventories. Expect cheaper retail prices at the pump for holiday travel. Propane prices continue to remain flat as USA demand and exports are increasing with the colder weather.
I will be taking a couple weeks off sending updates over the holidays. Again, the markets have little liquidity and are very inefficient the last two weeks of the year. The reasons are that traders are looking at tax harvesting opportunities and companies are looking at repositioning for starting 2025.
I want to say thank you so much for our customers going into the holiday weeks! We have the best customers in the business and everyone at Crawford Oil and Propane is so very grateful! Thank you to everyone who did business with Crawford Oil and Propane in 2024. We are excited and looking forward to another great year in 2025. I hope everyone has safe holiday travels and enjoys time with friends and family over the next couple of weeks. Happy Holidays and I will talk to you all next year! 🙂
Best regards,
Jon Crawford