Hi to all,
Here’s what I have for Thursday’s price change:
·
Heating and stove oils show no change to prices.
·
Diesel shows just 2/10ths of a cent down.
·
Gasoline shows a small dip of 6/10ths of a cent
a litre.
Market highlights
·
US government shutdown last night has no effect
on this week’s numbers, but an extended shutdown will most affect prices
downwards starting as early as next week.
·
Bloomberg predicts an increase of 2.5 million
barrels this week with a total refinery utilization of 89.5%
·
Thaw in US/Iran relations drives oil prices
downwards. Iran sanctions will add oil capacity to the markets if sanctions are
lifted. Contingent on Iran stopping its nuclear program.
·
Survival of Come by Chance refinery contingent
on lower prices for low gravity crude. If prices drop for heavy crude, refinery
stands a better chance of survival. Lower crude acquisition prices part of the
problem of losses to the refinery’s bottom line. If we lose the refinery, lack
of competition could mean higher prices for consumers in the province with
having one refinery in Atlantic Canada being a source of supply.
That’s it for this week! Back on track I hope!
Regards,
George Murphy
Twitter: @georgemurphymha
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