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

The Energy Complex Is Green Across The Board This Morning

Monday, Sep 12 2022
Market Talk

The energy complex is green across the board this morning with the distillate contract leading futures higher with over 1% gains to start the day. US gasoline and crude oil benchmarks are tagging along, both boosting prices about .7% this morning, as a weakening dollar takes the credit for positive price action.

Not all quiet on the Atlantic front: while Hurricane Earl came and went without causing any damage to energy infrastructure, there are two areas of interest that have potential for development, heading this way. While they don’t pose an immediate threat, both disturbances are positioned squarely in the historical origin range for some of the largest storms we have experienced.

Baker Hughes’ total US rig count dropped by one last week, the second consecutive week of decreases in active oil production plants. The reactivation of platforms has slowed down over the past few weeks, mirroring the drop in oil prices, disincentivizing some from starting their drills.

Money Managers trimmed their net positions in all but one of the major petroleum futures contracts last week. West Texas Intermediate crude oil saw the only increase in net positions while speculators telegraphed much more bearish sentiment in its European counterpart, cutting their bets on higher prices by nearly 8%. The refined product positions saw either double digit percentage drops in long positions or double digit percentage gains in short positions, signaling that the “smart money” expects lower prices in the short term.

The Chinese response to their increased COVID-19 problem remains one of the go-to topics for headlines as of late. Demand concerns due to new lockdowns are taking credit for the weakness in energy prices we’ve seen since June this year. Several other fundamental drivers remain in flux however:

Click here to download a PDF of today's TACenergy Market Talk.

News & ViewsMarket Talk

News & Views
Latest Posts

Energy Futures Are Bouncing This Morning After Heating And Crude Oil Futures Carved Out Fresh Multi-Month Lows
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

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.