• Supply
  • Social Media
VisitTAC - The Arnold Companies
Customer LOGIN
TACenergy
Customer
LOGIN

Energy Futures are Starting the Week with Modest Losses

Monday, Oct 21 2019
Market Talk

Energy futures are starting the week with modest losses, as the complex continues to slog through an extended period of sideways trading. Brent crude prices give a good example of the lethargic trading, as they’ve been stuck between $57 and $62 for 9 of the past 12 weeks, with only the brief price spike following the attack on Saudi oil production moving prices out of that sideways range.

Part of the reason for that lack of action is that money managers are unenthused with energy contracts, with net-length in both WTI and Brent reaching the lowest levels since January. Refined products are also uninspiring in terms of total outstanding positions, but also intriguing as RBOB positions are ticking up towards the high end of their seasonal range, while ULSD positions barely hold onto a positive bias, both counter to seasonal norms as driving slows down and heating demand ramps up.

Baker Hughes reported 1 more oil rig was put to work last week, marking a 2nd week of gains. While adding 3 rigs in two weeks isn’t exactly newsworthy, the two week break from declines does suggest the rig count may have found a temporary floor.

Ethanol RIN values have dropped back to around 15 cents/RIN after trading around 25 cents 2 weeks ago. The EPA’s proposal for spreading renewable volume obligations in the coming years is taking the blame for the latest drop in RIN values.

Click here to download a PDF of today's TACenergy Market Talk.

News & ViewsMarket Talk

News & Views
Latest Posts

KTBS 3 Spotlight on TACenergy Leadership COO Fred Sloan - Sharing Thoughts on Changes in the Gas Market
Go Rentals Opens 10 New Locations with Partner, TAC Air
Tac Air's new facility features B17-G model airplane, Military Situation Room
TAC Air B-17G Model Brings Nostalgia and Tears

News & Views
Archive

Market Talk
Latest Posts

Market Talk
Archive

TACenergy logo
Sales:  800-375-FUELSupply & Logistics:  800-808-6500

Get in Touch

Sign up to receive market talk updates in your inbox each day.
Establish a credit account.
Apply For Credit
Need to make a fuel order today?

Follow us

TACenergy
  • Supply
  • News & Views
  • Market Talk Updates
  • Social Media
  • Contact a Representative
  • Customer Login
  • Apply For Credit
Find Your Next Great Role With TACenergy.
Explore Careers
  • Privacy Policy
  • Terms of Use
  • Employee Login
  • Sitemap
TACenergy, LLC © 2022. All Rights Reserved.