The energy markets remain somewhat stable throughout the spring and into early summer. Crude Oil (WTI) has stayed in the $75-$85 range for quite some time and inventory levels are consistent with last year at this time. Gasoline pricing has also remained consistent with last year and is trading at the lower end of the five-year range. Inventory is slightly higher than both last year and the five-year average. The same can be said for the distillate market. Demand for these products is up year-over-year but production is also up.
The propane inventory levels are slightly below last year’s level but remain above the five-year average for this time of year. Pricing for propane is at last year’s level and well below the five-year average. A slight
increase in propane pricing is expected as we roll into fall.
Geopolitical issues will continue to weigh on the markets, as always. There is some concern that there may be a rail strike in the fall, which may provide some local supply issues. Generally speaking, we are well positioned to have supply and consistent pricing for the remainder of the year.
For more information on fuel markets, please call one of our offices.