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Tuesday, January 26, 2016

Price changes for Thursday, January 28, 2016

Hi to all,

First off, thanks for your patience as I have not posted here in some time due to computer issues. I needed a solid upgrade, let's put it at that!
Either way, now that I am free and unencumbered, I intend to post here a little more often than previous as changes to the oil markets occur. You can count on hearing from me a little more as we go through this downturn and changes to the oil markets!

If I bore you, then unsubscribe!

Here’s what I have for this Thursday’s price changes. Keep in mind that due to the winter blend of fuels, heating and Diesel numbers may be off slightly.

*Heating and stove oils show an added 18/100ths of a cent up.

*Diesel fuel shows an added 7/10ths of a cent upwards, and...

*Gasoline shows an increase of 5/10ths upwards.

Market highlights

*The Canadian dollar is starting to gain some ground against its US counterpart, reaching $1.4062 against $1.4589 at the start of this pricing session. In spite of the rise in fuel prices on the New York mercantile exchange this week, those increases have been mitigated by the rise in the Canadian dollar. Heating oil increased a rough nine cents a US gallon this last week on the exchange, while diesel gained a dime a gallon and gasoline increased six cents on average this past week on rising oil.

*All eyes are now on Iran for the first data that may show exactly how much oil the OPEC member will be pumping into the markets now that sanctions have been formally lifted. Iran will immediately respond by adding 500,000 barrels to output, gradually increasing to an added million on top of present output by the end of this year. Look for a “play” as Iran counters lost market share to competitor Saudi Arabia.

That’s it for this week!


George Murphy
Twitter @GeorgeMurphyOil

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