Current Marketing Thoughts
By: Kevin Van Trump
Kevin Van Trump has over 20 years of experience in the grain and livestock industry.
Should We Lock in Fuel Needs?
Jun 05, 2014
Crude Inventories Shrink: Total US crude stockpiles dipped to 389.5 million barrels, a drop of 3.4 million, which was considerably more than expected. Cushing inventories fell to a five-year low of 21.4 million barrels. Imports fell nearly 700,000 barrels per day, which some analysts believe is due to logistical problems. Supplies of refined fuels, on the other hand, rose with the biggest increase being distillate supplies, which include diesel and heating oil, rising 2 million barrels. Keep in mind that even with that expansion, their inventory levels are still 4.2% below last years levels. My concern here is that if those inventories don't continue to rebuild, we may be in for some much steeper diesel and heating oil prices come winter. CLICK HERE for my daily report....