• TAC - The Arnold Companies
The Arnolds Companies

Tropical Depression Nicholas Hovering Over Heel Of Louisiana

Thursday, Sep 16 2021
Market Talk

A handful of bullish numbers published by the DOE yesterday morning pushed energy futures to multi-month highs. The prompt month diesel contract was the most noteworthy reaching levels not seen since 2019. The drop in refined product inventories (despite cratering exports), the 7.5% decline in gasoline demand, and the decreased output of gas and diesel fueled yesterday’s rally.

Tropical depression Nicholas is still hovering over the heel of Louisiana. While repairs have been halted due to the downpours, it doesn’t sound like and new damage has cropped up with the latest storm. The EIA published a note this morning highlighting the damage caused by Ida last month and the breadth of energy infrastructure shutdowns.

Colonial restarted its main Line 2 yesterday after shutting it preemptively due to flooding from the storm. The refined product artery taking product from Houston all the way up and through the Atlantic seaboard has returned to normal operations.

A system crossing the Atlantic looks to be heading towards the Lesser Antilles next week with an 80% chance of developing into an organized storm. Another looks to be forming off the Atlantic coast next week as well, projections keep it out to sea for now.

Prices are drifting lower this morning, taking a breather from this week’s rally. American crude oil, gasoline, and diesel benchmarks are shedding ~.7% so far today while the three are poised to end the week with gains. Tomorrow’s price action could be pivotal in deciding if this 18 month-long rally will push energy prices to multi-year highs or if we will finally see a sizable pullback as the US gets back to (some form of) normalcy.

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

TAC - The Arnold CompaniesTACenergyTAC AirKeystone Aviation

Latest Posts

TAC Air — AMA FBO Expands and Improves in Amarillo
TAC Air Safety: Active FOD Prevention
Bob Schick of TAC Air Continues to Serve as Member of IS-BAH Standards Board for 2021/2022
KRLD CEO Spotlight on Greg Arnold and the Braniff Centre

Archive

Latest Posts

Archive

The Arnold Companies
  • About
  • News & Views
  • Social Media
  • Careers
  • Contact Us
  • Sitemap
TACenergy
  • Supply
  • Customer Login
  • Apply For Credit
  • Market Talk Updates
  • Contacts
  • Blog
  • Social Media
TAC Private Hangars
Find Your Next Great Role With TAC.
Explore Careers
  • Privacy Policy
  • Terms of Use
  • Employee Login
TAC - The Arnold Companies © 2021. All Rights Reserved.