• Our Companies
The Arnolds Companies

Oil Futures Lead The Way Higher Yesterday

Thursday, Dec 5 2019
Market Talk

Oil futures lead the way higher yesterday posting a $2/bbl gain on the day after the Department of Energy’s weekly inventory report confirmed a ~5 million barrel draw in national crude oil stockpiles. Gasoline and diesel, showing to have built inventory levels last week, pulled back slightly from earlier highs and ended the day with gains of about 3.5 cents, or $1.5/bbl.

Eyes now turn to Vienna where OPEC and friends are expected to announce a continuation of current supply cuts, scheduled to expire this March, if not dial back production even more. It seems the deal hinges on Russia’s agreement, who has yet to indicate one way or another ahead of the meeting. It seems futures are in wait-and-see mode, coming off slightly after overnight buying looked to continue yesterday’s rally.

The EIA published an interesting note yesterday showing as of September, the US is a net exporter for total petroleum products for the first time in the Agency’s history. The article highlights increased domestic crude oil production (leading to decreased imports) and crude oil exports (which have set a new seasonal high almost every week this year) as the main drivers for the paradigm shift.

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


Latest Posts


The Arnold Companies
  • About
  • News & Views
  • Social Media
  • Contact Us
  • 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.