Fuel fleet cards help your drivers get the fuel they need to
The Bears won the battle on Wednesday in the Fuels market despite significant declines in product inventories. Estimates called for a 4MM barrel decline in Crude. The actual decline was 8 MM barrels. Gasoline inventories were on the mark with a 700K barrel increase. Like Crude, Distillates had a larger than expected decline of 2.9MM barrels versus expectations of a 1.6MM barrel decline. The recent push by the Bulls coupled with inventory declines could invite additional production by OPEC+. So, while the Bulls won Wednesday’s headlines, the Bears won the trading day.
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