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Tuesday, March 04, 2014

Price changes for Thursday, March 6th, 2014

Hi to all,

Here’s what I have for Thursday, March 6th price changes:

Looks like the situation in the Ukraine did play a small role in the numbers this week, but more on the natural gas end of things. The Ukraine situation has only resulted in the possible disruption of about 300K in oil exports that would pass through the eastern European country into the rest of Europe. We'd more than likely see a sharper increase in Brent prices, but West Texas prices have also seen a very modest increase overall this week.

Added up though, the steady increase in Brent prices as of late are more tied to other possible supply disruptions along the supply chain and not just from the Ukraine, namely from Libya and other Middle East nations where, as of the last reports I’ve had, about 600K in exports remain shut in.

Here's what I have, keeping in mind that the winter heating mix still makes the heating and diesel fuel numbers inaccurate:

Stove oils drop by a half penny.
Heating oils also down a half penny.
Diesel to drop by 1.7 cents a litre, and...
Gasoline also down, but by 1.4 cents a litre.

Now, I'm betting that some of you may have thought that it should be the other way around with the threats to a possible confrontation in the Ukraine, right?

Had me too!

That's it for this week!

George Murphy, MHA, St. John's East
Twitter: @GeorgeMurphyMHA

1 comment:

Table Mountains said...

If I had to bet I would of bet on an increase this week.