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

Petroleum Product Inventories Boosted Futures

Thursday, Oct 21 2021
Market Talk

An across-the-board draw in petroleum product inventories boosted futures prices yesterday after the big three (gasoline, diesel, and WTI crude) tried to start the day with modest losses. Gas and diesel saw the largest drawdowns in stocks at 5.4 million barrels and 3.9 million barrels, respectively. Likewise, the two refined product contracts lead the complex higher, each posting a ~1.3% gain on the day.

While the combination of growing adoption of renewable fuel and collective abandonment of coal usage is expected to cut emissions over the next 30 years, the EIA still anticipates a 5% increase in the world’s CO2 footprint through 2050.  

RIN prices are rallying this week after completely recovering from last month’s selloff surrounding the fake(?) email containing biofuel blending targets. Both ethanol (D6) and biodiesel (D4) credits added 5 ½ cents yesterday, bringing their price to $1.41 and $1.67, respectively.

Diesel prices in the Midwest have hit fresh 16-month lows against the New York Harbor Heating Oil contract. While it is common to see prices in the region slope off with the cooling weather, witnessing it happen this early, and in the middle of harvest season, is uncommon. Seasonally high days of supply seem to be the culprit for the dropping prices in the Heartland.

The European crude oil benchmark hit fresh multi-year highs in overnight trading before pulling back with the rest of petroleum futures early this morning. Whether this morning’s action is profit taking, ‘Reversal Thursday’, or the beginning of the sizable pullback some are anticipating is yet to be seen. What has been seen, over the past couple weeks, is early morning selling reversed mid-day as some traders find a reason to continue buying.

Click here to download a PDF of today's TACenergy Market Talk, including all charts from the Weekly DOE Report.

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.