Phil Flynn
Phil Flynn is writer of The Energy Report, a daily market commentary discussing oil, the Middle East, American government, economics, and their effects on the world's energies markets, as well as other commodity markets. Contact Mr. Flynn at (888) 264-5665
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The Terror Element. The Energy Report 10/18/2024
Of course, those hopes are being met with healthy skepticism. It was reported that Israeli Prime Minister Benjamin Netanyahu has declared that the war in Gaza is “not over”. Netanyahu said that “Today, evil has suffered a heavy blow, but the task before us is not yet complete.” Benny Gantz, the leader of the right National Unity party, agreed with him.
Yet US demand is hot, and oil inventories are still below normal.
Distillate fuel inventories decreased by 3.5 million barrels last week and are about 10% below the five-year average for this time of year.
Over the past four weeks, the motor gasoline demand averaged 9.0 million barrels a day, up by 5.4% from the same period last year.
Jet fuel supplied was up 10.4% compared with the same four-week period last year.
Another storm system could catch the Natural Gas Markets attention so download the Fox Weather ap to keep an eye on this storms development.
Fox Weather reported that the development odds increase again for Caribbean disturbance 95L.
Thanks,
Phil Flynn
Senior Market Analyst & Author of The Energy Report
Contributor to FOX Business Network
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