Weekly Insights - June 22, 2018


Good afternoon. It appears like last weeks forecast came to fruition over the weekend. A shot of rain for everybody. Amounts varied, but we will take every drop we can get this time of year.
OPEC, Russia, Libya, Venezuela, Iran, Iraq, Saudi Arabia, United States. Everybody has heard these names, but what do they all have in common? Why do I mention them you may ask? OIL. Not just oil but how much can we produce, how much should we produce, and how come we are or aren’t producing more or less. On any given day one or all of these may be a headline and affecting the markets. This week the meeting between OPEC and Russia is the big news. General consensus is that they are going to increase oil production up to 1mmb per day to make up for an estimated shortfall of 1.8 mmb. Monday seen a drop in the market of .05, but the rest of the week has been relatively flat trading a penny or two either side of Monday’s level. I have a website that flashes the energy markets live with approximately a 30 sec delay. I check this every morning and periodically throughout the day. This morning (Friday) the markets are wild ahead of an official announcement from the OPEC meeting. Crude is up close to $2 and products are following up over .04. It will be interesting to see where the markets settle after an official announcement is made.
 
As a reminder we will be contacting customers to set up an appointment to check your LP system for any needed upgrades and/or a leak check. Please allow our service personnel the opportunity to do this. It is for YOUR safety as well as ours. Also LP budget and contract information should be arriving in your mail shortly and we will be starting summer fills July 1st.  If you are in need of any service work to your LP or refined fuel system please call Jim Lefor our service manager at 605-209-0023 or myself at 605-470-0622 to get on the list so we can get your work done in a timely fashion.
 
Have a good week and thanks for your patronage.

Transport Price Ruby Fieldmaster 7500 gal minimum
 

Britton Area $2.3373**
Aberdeen/ Groton Area $2.3132**
Doland Area $2.3373**
Forman/Gwinner Area $2.3365**

**Please call for exact pricing as prices are subject to change at anytime without notice.