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

Hurricane Dorian Stalled Over The Bahamas

Tuesday, Sep 3 2019
Market Talk

Hurricane Dorian has stalled over the Bahamas this morning and its sustained winds have weakened to ‘only’ 120mph. As of now it doesn’t look like the eye of the storm, around which the strongest and most destructive winds are, will make landfall on the American mainland. However, evacuation notices have been issues that will affect nearly 3 million people on the east coast, mainly in Florida, Georgia, and the Carolinas. Impact on energy prices remain localized as of now with refined product terminals shuttering in preparation for storm surges and potential flash flooding from sustained rainfall.

Energy prices are down sharply this morning on news that Beijing and Washington are back at it with the trade debacle. For the first time in the trade war, China has targeted US crude oil exports, adding a 5% tariff to the product and sending futures lower over 2.5%. The latest move comes in response to the White House fulfilling its intention to issue an additional 15% tariff on various Chinese imports.

Managed money cut their long positions in energy futures last month, bringing the net position in ULSD close to flat for the first time since last May.

Baker Hughes reported a decline in total US oil production rigs for last week. The decrease, mainly seen in rig closures in the Permian basin, has sent this year’s total operating count lower than that of 2017.

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.