06.06.2024 Energy Tidbits

Jun 06, 2024
Recently analysts have mentioned a potential interest rate cut by the Feds this year, this news creates demand as it is anticipated consumers will feel like traveling and purchasing goods if interest rates are reduced. Before this news energy prices had been going significantly lower due to OPEC’s announcement that oil production cuts that were above the agreed upon production cut levels will cease later this summer thus creating a well-supplied market. These two news items came about as we were notified inventories of gas, diesel, and propane increased in this week’s EIA report. Taking this into consideration leads me to recommend purchasing of at least a portion of your energy needs for the upcoming harvest, as always things can change without notice so proceed with caution yet limit your risk by layering in some of your diesel and propane needs now.

Summer Fill
We have begun our annual propane summer fill so please be on the lookout for CRC drivers on your sites getting those propane tanks topped off! Summer fill deliveries will be invoiced at the cash price with a deferred payment due date of September 23rd. All schedule fill customers will automatically be filled unless you tell us otherwise. We ask that will call customers please call the Energy office to schedule a summer fill delivery. Keep in mind we also offer fixed forward contract pricing, and a budget program. For more information on these programs please call your favorite Energy office!
Thanks for reading and thank you for the business you have granted us!

Bill Pelzel
CRC Energy Manager
Filed Under: CutsDieselEIAEnergyGasMarketOilOPECPricesProductionPropaneReportSupplied