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Tuesday, April 15, 2014

Price changes for Thursday, April 17th, 2014



Here's what I have for Thursday's price changes.

Not good.

Heating and stove oils show an added 63/100ths of a cent.
Diesel fuel shows an added 1.1 cents a litre, and...
Gasoline shows an added 5 cents a litre at the pumps.

A draw on gasoline inventories may have been a huge factor in this week's increase, all in spite of a good build of inventory of crude oil.

I guess with snow on the melt, the gulls in the markets are taking advantage of warming weather ahead of the summer driving season. We'll keep an eye for anything happening in the markets that may drive prices up again and give everyone a better heads-up for next week.

The Canadian dollar remained about equal to its US counterpart in spite of the $3 US increase in crude prices.

That's it this week!

Regards,

George Murphy, MHA
St. John’s East
Twitter @GeorgeMurphyMHA

Tuesday, April 08, 2014

Price changes for Thursday, April 10, 2014

Hi to all,

Here's what I have for this Thursday's price changes.
Keep in mind that the winter blending of heating and diesel fuels is now over and that my numbers, while maybe off this week, should be accurate for next week.

Here's what I have:

Heating and stove oils to drop by 1.77 cents a litre.
Diesel to drop by 2.2 cents a litre, and...
Gasoline to increase this week by 1.8 cents a litre.

Markets are anticipating another drop in gasoline inventories as recorded by the US Energy Information Administration. That inventory report will be released Wednesday, around 1:30PM Newfoundland time. We'll see what the report says.

The Canadian dollar showed an increase against the US greenback at the end of this pricing session with the increase in crude oil prices, that averaged a rough $2 US a barrel. Further disruptions in crude oil to the markets is cited for that increase.

That's it for this week! Feel free to share it around.

Regards,



George
Twitter @GeorgeMurphyMHA

Tuesday, April 01, 2014

Price changes for Thursday, April 3, 2014



Hi to everyone!

Hope you're all dug out now...

Here's what I have for this Thursday's price changes, bearing in mind that we're still under the guides of the winter blending of heating oil and diesel fuel, so those numbers may be off somewhat...

Heating and stove oils show an added 38/100ths of a cent a litre.
Diesel fuel shows a drop of just 3/10ths of a cent a litre, and...
Gasoline shows a drop of 1.4 cents making its way down the pipes.

My usual margin for error is 3/10ths of a cent, so, it doesn't look like too many price changes, except for gasoline.

That’s it for now!

Regards,

George Murphy
Twitter @GeorgeMurphyMHA

Tuesday, March 25, 2014

Numbers for Thursday, March 27, 2014

Hi to all,

Here's what I have for this Thursday's price changes. Keep in mind that the numbers for heating oil and diesel fuel are still subject to winter blending, so, those numbers will not be entirely accurate!

Heating and stove oils show a very modest drop of just 15/100ths of a cent a litre.
Diesel is showing up by 9/10ths of a cent, and...
Gasoline shows just a 3/10ths of a cent decrease.


The Canadian dollar lost a rough cent against the US greenback over the past week. If it was up against the US dollar, we could have been looking at another more substantive drop.

Oil inventories showed an overall gain last week, while gasoline inventories were down slightly. Both offset against each other really, with oil inventories signalling that there's plenty of oil out there floating around in case it's needed for processing. Oil prices themselves were showing to remain relatively steady over the past week as well.

Hope all this helps!


Regards to all,

George Murphy
Twitter: @GeorgeMurphyMHA

Tuesday, March 18, 2014

Numbers for Thursday, March 20, 2014

Hi to all,

Here's what I have for Thursday's price changes.
Keep in mind that my numbers for Heating oil and Diesel fuel will still be off somewhat because of winter blending!

Stove oil shows a drop of 2.55 cents a litre.
Heating oil shows down by 2.55 cents.
Diesel fuel shows a drop of 5.2 cents a litre, and...
Gasoline shows a drop of just 1.1 cents a litre.

Better "down" than up I guess...

The Canadian dollar remained relatively steady against the US greenback, all in spite of a modest drop in some oil prices. I continue to keep in view the situation in the Ukraine, but oil prices are more reflective of some worldwide drops in overall production. Libya and Iraq remain as export concerns to the markets, particularly for Brent prices.

That's it for this week!


Regards,

George Murphy
Twitter @GeorgeMurphyMHA

Tuesday, March 11, 2014

Numbers for Thursday, March 13, 2014

Hi to all,

Numbers for Thursday...

Keep in mind that the numbers for heating oil and diesel will be off somewhat because of winter blending. They use kerosene as an antifreeze during the winter, and I can't track that stuff, as much as I've tried!

Either way, here's what I have for Thursday:

Heating and stove oils show a drop of 3.06 cents a litre.
Diesel shows a drop of 2.3 cents a litre, and...
Gasoline shows a modest drop of 1.2 cents a litre.

From the look of it, the markets are telling me that the distillate fuels, heating, stove and diesel, are all dropping because of warming weather in the US. This winter can't go fast enough for me, let alone those depending on heating oils!

The Canadian dollar remained steady the last week, hanging around that $1.10 to $1.11 mark against the US greenback.

Share it around...

That's it for this week. 


Regards,

 

George Murphy
Twitter: @GeorgeMurphyMHA 

Tuesday, March 04, 2014

Price changes for Thursday, March 6th, 2014



Hi to all,

Here’s what I have for Thursday, March 6th price changes:

Looks like the situation in the Ukraine did play a small role in the numbers this week, but more on the natural gas end of things. The Ukraine situation has only resulted in the possible disruption of about 300K in oil exports that would pass through the eastern European country into the rest of Europe. We'd more than likely see a sharper increase in Brent prices, but West Texas prices have also seen a very modest increase overall this week.

Added up though, the steady increase in Brent prices as of late are more tied to other possible supply disruptions along the supply chain and not just from the Ukraine, namely from Libya and other Middle East nations where, as of the last reports I’ve had, about 600K in exports remain shut in.

Here's what I have, keeping in mind that the winter heating mix still makes the heating and diesel fuel numbers inaccurate:

Stove oils drop by a half penny.
Heating oils also down a half penny.
Diesel to drop by 1.7 cents a litre, and...
Gasoline also down, but by 1.4 cents a litre.

Now, I'm betting that some of you may have thought that it should be the other way around with the threats to a possible confrontation in the Ukraine, right?

Yup...
Had me too!

That's it for this week!

George Murphy, MHA, St. John's East
Twitter: @GeorgeMurphyMHA