Some nominal fluctuation
in crude pricing over the past two weeks as increased US
domestic production (now averaging 9.24 million barrels per
day) and hurricane related reduced demand pressures were
offset by OPEC forecasts of increased global demand in 2018,
and ongoing geopolitical tensions in Kurdistan.
As for refined product
pricing, refinery production interruptions (refinery fire at
Trainor, Pennsylvania) have impacted rack pricing as of late
though this should be a temporary condition. Increased
exports of diesel to Europe coupled with seasonal harvest
related demand, has pressured diesel rack pricing this far
this fall. Additionally, the US National Oceanic and
Atmospheric Administration's prediction this week at 13%
colder temperatures this coming winter will impact heating
oil prices going forward.