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

Spring Break-Out Rally Continues

Friday, Feb 22 2019
Market Talk

The spring break-out rally continues, as most energy futures are touching fresh 3 month highs again this morning. Strength in equity markets, healthy exports, and the ongoing issues in Venezuela all seem to be contributing to the strength, in addition to the momentum generated by the break in technical resistance last week.

US Crude oil production reached a new record high at 12 million barrels/day last week, and US oil exports also reached a record of 3.6 million barrels/day. The 25 million barrels of US crude that was sent out of the country last week alone probably explains why WTI is outperforming the rest of the petroleum complex today after being the weakest link for most of the recent rally.

A sharp drop in PADD 1 refinery runs to their lowest level in nearly 2 years, and subsequent reduction in gasoline stocks along the East Coast helps give a fundamental reason for the recent strength in futures and cash markets as the transition from winter to summer gasoline specs begins.

In addition to the weekly status report released yesterday, the EIA is highlighting its new Statistics tool in a note released this morning, showing the top energy consuming states by total and per capita. Texas, California and Florida continue to dominate in terms of total energy usage.

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.