Weekly Insights - August 24, 2018

The markets have been bullish since last Friday but leveled out some today. Wednesday’s inventory report was the driver behind yesterday’s price hike. The main news right now, and for the foreseeable future, are sanctions being leveled against Iran, particularly crude sanctions which are set to go into effect in November. The trade war between the two largest economies in the world (USA and China) are also of major concern. To date, there has been tariffs on $100 billion worth of goods between the two countries. There is a summit scheduled for the USA and China in November.

For anyone that doesn’t know, myself included, there is an international payment system called Swift that allows money to flow between countries and is limited to the US dollar. This poses a large problem for any country wanting to continue doing business with Iran. Swift does not allow money to flow to countries with sanctions leveled against it. Germany has called for Europe to set up an independent payment system so they can bypass US restrictions. Whether this will ever happen remains to be seen, but it has put downward pressure on the dollar which also allowed some upward pressure on the energy market. 
Have a good week and thanks for your patronage,

Brian Beck
Transport Price Ruby Fieldmaster 7500 gal minimum

Britton Area $2.4418**
Aberdeen/Groton Area $2.4177**
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Forman/Gwinner Area $2.4410**

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