• Our Companies
The Arnolds Companies

Energy Prices On The Move Higher

Friday, Oct 4 2019
Market Talk

Energy prices are on the move higher, snapping a streak of 8 consecutive losses for WTI, spurred on by new violence in the Middle East, some optimism on the economic front, and what appears to be some technical buying of an oversold market.

Prices had been holding modest gains overnight, and then started a more meaningful move higher following the September payroll report that showed 136,000 jobs were added during the month, while both the July and August estimates were revised higher. The headline unemployment rate dropped to 3.5%, the lowest reported level in nearly 50 years, while the “U-6” unemployment rate (also known as the “real” rate) dropped to 6.9%.

Gasoline basis and calendar spreads remain unseasonably strong across much of the US, as threats of a refinery strike on the East Coast, and sky high prices on the West Coast keep a bid under prompt values.

The tropics remain relatively quiet as we move past the peak of hurricane season. There is a disturbance off the Yucatan peninsula but that’s being given a zero percent chance of developing in the next 5 days by the NHC.

Click here to download a PDF of today's TACenergy Market Talk.

TAC - The Arnold CompaniesTACenergyTAC Air

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

Archive

Latest Posts

Archive

The Arnold Companies
  • About
  • News & Views
  • Social Media
  • Contact Us
TACenergy
  • Supply
  • Customer Login
  • Apply For Credit
  • Market Talk Updates
  • Contacts
  • Blog
  • Social Media
Find Your Next Great Role With TAC.
Explore Careers
  • Privacy Policy
  • Terms of Use
  • Employee Login
  • Sitemap
TAC - The Arnold Companies © 2022. All Rights Reserved.