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

Geopolitical Issues Taking Credit For Sharp Rally

Tuesday, Sep 18 2018
Market Talk

A slew of geopolitical issues seem to be taking credit for this morning’s sharp rally ahead of formal opening at 9am EDT. The White House instructed the US trade representative to impose a 10% tariff on over half of all Chinese goods (over $200 billion worth) exported to the US. China, not terribly thrilled with the news, claimed Monday that retaliation was inevitable.

Oil exports from Iran are feared much lower from now until November 4th, when the US resumes their sanctions on the OPEC member after pulling out of the nuclear deal struck between Iran and world powers back in spring 2018. US allies are reportedly cutting back imports from Iran ahead of the fall deadline leaving a big question mark as to where the replacement barrels will come from.

A Russian reconnaissance plane was shot down by Syria, their ally, in what has been determined to be a friendly-fire incident. Russia, in what can only be described as a very Russian response, is casting blame on Israel who were allegedly launching air assaults at the time. While not much is expected to come of this, simply the presence of these three countries in the same headline certainly isn’t going to dampen bullish sentiment today.

Prompt month gasoline and diesel futures are up over 3 cents this morning, each breaking through some significant resistance levels set by moving averages. There isn’t much in the way on the charts for both refined product contracts to tack on an additional 2-3 cents before meeting some technical selling pressure. WTI futures seem to be making their move for the (mostly psychologically) important $70 level, breaking above which could lead to a renewed rally for the American crude benchmark.

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

Market Talk
Latest Posts

Market Talk

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

  • 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.