Energy Communications

Update: Week of September 26

  • The whole energy complex continues its volatility this week as WTI crude was off over $1 but is now up $0.25 and is trading near $79.  ULSD is down today over 2 cents and propane was off 5 cents last Friday at Conway.
  • An ongoing concern of recession fears and related demand destruction has continued to drive the energy complex lower.
  • Last week the Fed followed through with the 75 basis point interest rate hike.  The dollar is at a 20-year high this morning.  Other oil-consuming countries are also increasing rates to combat inflation concerns.
  • Baker Hughes reported on Friday that the rig count increased by one unit bringing the total to 762.  The rig count has increased by 242 rigs over the last year.

2022-2023 Propane Contracting

The budget bill contracts for home heats will be the first to receive their contracts. The contract period has changed this year from June 1st to May 31st. You should have received your contract. 

Additionally, we will have the “Summer Fill” opportunity to fill tanks this year. Please be on the lookout for a postcard with additional information.