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

Quiet Overnight Session Quickly Shifted Into Heavy Selloff

Friday, Aug 23 2019
Market Talk

A quiet overnight session quickly shifted into a heavy selloff for energy prices as a new round of tariffs announced by China seem to have spooked traders in both energy and equity markets, ahead of a much anticipated news conference from the FED Chairman later today.

RBOB gasoline prices were leading the move lower, down more than 4.5 cents at one point, and coming within about a penny of their August low trades. Diesel prices were also down more than 4 cents momentarily, but remain about 6 cents above its August (and June) low prints. The relative weakness in gasoline is also visible in the RBOB calendar spreads, with the U/V “sunburn” spread dropping to below 12 cents from a high near 18 in July, as traders appear to doubt demand for summer grades ahead of the fall RVP transition.

Ethanol prices, and the RINs associated with them have had a notable recovery rally this week as the Ag lobby has been out in force, pressuring the White House to increase RFS obligations on refiners. The EPA meanwhile has rebutted claims by renewable groups this week, suggesting there is “zero evidence” that the small refinery waivers has had a negative impact on corn producers.

The national hurricane center is giving a disturbance a 70% chance of developing over the next 5 days off the US southeast Coast, but current forecast models appear to keep this storm shifting East offshore after brushing the Carolinas.

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.