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

Steam Knocked Out Of Rally In Energy Futures Overnight

Wednesday, Dec 18 2019
Market Talk

Another bearish inventory report knocked the steam out of the rally in energy futures overnight, pulling oil and diesel prices back from the 3 month highs reached in Tuesday’s session.

The API was reported to show large inventory builds across the board last week, with US crude oil stocks up 4.7 million barrels on the week, gasoline up 5.6 million barrels and distillates up by 3.7 million barrels. The DOE’s weekly report is due out at its normal time this morning, then will be released on Friday at 11 a.m. Central time the next two weeks due to the Christmas and New Year’s holidays.

Today’s inventory report could be the last chance to see a big move in prices before trading activity winds down for the holidays. If the energy complex can manage to erase the early losses today, there is still a chance for a technical breakout to the upside this week, but if they can’t, it looks like we might see values limp into the end of the decade.

The government spending bill passed the House early Tuesday and is expected to be voted on by the senate early Tuesday. The most notable impact to energy markets is the biodiesel tax credit that’s proposed to be approved from Jan 1 2018 – Dec 31 2022. The reaction in Bio RIN values was dramatic, will values dropping to 38 cents/RIN down from 65 cents just a few weeks ago.

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.