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

Energy Futures Trying To Bounce After Post-Labor Day Head-Fake

Thursday, Sep 6 2018
Market Talk

Energy futures are trying to bounce this morning after the heavy post-labor day head-fake brought on a wave of selling Wednesday. RBOB futures are trying to lead the rest of the complex higher as some markets along the Eastern Seaboard are feeling their annual squeeze as we tick down the last 2 weeks of summer-grade gasoline supply.

On the macro level the concerns about tariff-tantrums and emerging economy chaos have roiled equity markets this week, and perhaps lent a hand in the pullback for energy prices. On the other side of the equation, uncertainty over supplies from Iran, Libya and Venezuela should give sellers second thoughts, as might the suddenly turbulent Atlantic Ocean.

Just on time for the peak of the hurricane season, we may end up with 3 named storms in the Atlantic next week, after dodging a bullet earlier this week. As Gordon’s remnants dump rain across large portions of the country, we now have to worry about Florence as it became the first major Hurricane in the Atlantic this year, and its forecasted path continues to show possibilities of threatening the East Coast next week, and then we’ll have to watch the 2 new systems forming in the Eastern Atlantic as well.

The API was said to report a crude draw of just over 1.1 million barrels last week, while refined product inventories built 1.74 million barrels for distillates and 1 million barrels for gasoline. The DOE’s weekly status report is due out 24.5 hours later than normal due to the Labor day holiday. It’s not clear why they need the extra 30 minutes on holiday weeks, or if the time will make the report any more accurate/exciting than normal.

CLICK HERE for a PDF of today's charts

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.