Thursday, March 1, 2012

Interesting Day -Oil climbs over 110 a barrel for the first time since may on Iranian state-run news channel reported an explosion on a pipeline in Saudi Arabia.



So, market went crazy at end of day.   Chicago finished diesel finished up .114 and gas finished .0745.  Group 3 diesel finished up .0694 and gas .1095.    It becomes pretty difficult when market spikes at the end of day.  


According to Bloomberg, “Oil is shooting higher due to the Saudi report, absolutely, no question about it,” said Phil Streible, a Chicago-based commodities broker at RJO Futures. “People are buying oil based on the news. Gold is also rising.”  


C Store operators keep product moving in your tanks so volatility does not impact your business.(best you can)  Low volume sites are somewhat at the mercy of the market.  Try to move the juice best you can. 


Tomorrow should be interesting 


RRMcD



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