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

Up, Up, and Away Crude Oil Futures Lead The Pack This Morning

Friday, Feb 4 2022
Market Talk

Up, up, and away. Crude oil futures lead the pack this morning, posting 1.75% gains putting the prompt month contract just below the $92 level. Gasoline and diesel futures “lag” behind, boosting their prices by 2.75 and 4.75 cents, respectively.

The cold snap in refining country seems to be the cited reason why the buyers showed up this morning. The fact that the only news surrounding refinery operations was a small unit shutdown in Memphis and a planned return of run rates in Baytown makes it seem like this morning’s market move might have more to do with momentum than fundamentals.

The difference between the prompt and second month NYMEX diesel contracts reached levels not seen since 2015, and only seen five times in the contract’s 24-year history. Weather-induced demand surge along the eastern seaboard and shrinking supplies is the one-two combo driving a staggering 12.5 cent backwardation into March.

Gasoline prices seem to be along for the ride these past couple weeks, lagging behind both crude oil and diesel futures gains. There are scant reasons to be found explaining any sort of independent market action for the RBOB futures contract, but one would think the immediate outlook for the benchmark should be bearish given the wintry conditions hitting the Northeast again this week.  

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.