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

Negative Sentiment Spills Into Commodity Space

Tuesday, Feb 18 2020
Market Talk

The energy complex is selling off following Monday’s partial holiday, with negative sentiment from equity markets appearing to spill over into the commodity space.

The ripple effects of the coronavirus continue to manifest in various ways, from Apple’s earnings forecasts, to disruptions in waterborne trade. The EIA added more color to its demand estimate reductions for 2020 this morning due to the direct and indirect impacts of the virus, while also highlighting the bearish impact the record-warm winter has had on heating demand.

RBOB continues to outperform the other petroleum futures contracts as reports of additional unplanned downtime at the Bayway, NJ refinery keep upward pressure on cash prices and calendar spreads. The chart below shows that the March/April RBOB spread, which represents the difference in winter and summer RVP grades, has already been reduced by nearly one-fourth since news of that refinery downtime first broke.

While the RBOB strength may be the most notable, it’s certainly not the only contract seeing relative strength due to unplanned refinery hiccups. Group 3 ULSD basis values rallied more than a nickel last week thanks to a pair of unplanned shutdowns, while west coast values remain at lofty levels as it seems like there’s a new report of a refinery unit problem almost daily.

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.