Weekly Insights - May 21, 2018

Another week has come and gone. As I drive around the country, there is a lot of crop in the ground but a fair amount to do yet. There are some areas of our territory that are getting some small amounts of moisture and some are not. The weather seems very sporadic as to who receives rain and who does not.

On to my favorite topic: fuel markets. Once again, this week has been ruled by geopolitical news. When will sanctions against Iran take effect and how much will they affect the world markets? Venezuela is another hot spot. With ConocoPhillips taking over, their production is cut drastically. Saudi Arabia has pledged to work with the US and Russia to make sure the world has adequate oil supply, but (and there is always a "but"), their pricing goal for crude is $80 per barrel. With all that being said, the inventory reports this week were favorable to a bearish market but the middle east news is overriding the inventory reports and the ever increasing production by the US. Rumors are that this will drive crude to $100 per barrel. Will this happen? Remains to be seen.
 
Have a safe and productive week.
 
 Transport Price Ruby Fieldmaster 7500 gal minimum

Britton Area $2.546**
Aberdeen/Groton Area $2.5219**
Forman/Gwinner Area $2.5452**
Doland Area $2.546**


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