Hi to all,
Here’s what I have for Thursday’s price changes:
·
Heating and stove oils to increase by 1.17 cents
a litre.
·
Diesel to increase by 1.4 cents a litre, and…
·
Gasoline to increase by 2.5 cents a litre.
·
Keep in mind that my heating and diesel numbers
may be off slightly with the advent of the winter heating blend which includes
75% jet fuel in the mix. I hope to have the jet numbers worked into the mix by
next week.
Market highlights
·
The clock is ticking towards the US debt
ceiling. Some international credit agencies are now warning of a possible
downgrade in US credit ratings as a result of the debt ceiling dispute. The
debt ceiling dispute promises to disrupt the US economy if it fails to raise
the ceiling debt-load.
·
Bloomberg has put a story up that says to expect
Brent crude prices to drop below $100 if sanctions against Iran are lifted.
Currently, there are ongoing discussions over exposure of Iran’s nuclear
program, which is how initial sanctions ended up being placed against the
Middle Eastern country. If sanctions are lifted, it could add almost 3.5
million barrels a day into the world system.
·
The United States Energy Information
Administration has also been a victim of the stand-down between the Democrats
and Republicans over Obamacare. While the Republicans are looking for
concessions in the filibuster, Obama is not bending to their demands, which has
cut off government salaries in the process. As a result, there is no inventory
data being released, leaving lots of volatility in the oil and gas markets, not
to mention some wiggle room for speculators to maneuver.
That’s it for this week!
Regards,
George Murphy
Twitter: @GeorgeMurphyMHA
1 comment:
I am looking for oil and lube in Boise, ID, does anyone know of a good service station?
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