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Understanding Energy Markets
Although 2021 was less dramatic than 2020, it still held plenty of obstacles for the Energy Division and for Rocky Mountain Supply (RMSI) as a whole. In addition to keeping employees and customers safe and healthy, supply chain issues made it a challenge to provide the best service possible. Our employees did an outstanding job of keeping you supplied and your tanks from running out.
As far as the oil markets are concerned, they were not quite as crazy in 2021 as they were the previous year, but they were plenty interesting to say the least. Crude oil prices started out the first week of 2021 at $48.52 and have not been lower since. In fact, the first of November saw the highest price this year at $84.05. Since then, prices have slowly moved their way back down and at the first full week in January sat just under $70.00. We are keeping tabs on the situation daily, and we are here to help you as you consider your needs for the upcoming season. One thing to keep in mind is that diesel prices generally trend lower in the fall and bottom out between Thanksgiving and Valentine’s Day. I am not saying today is the best time to buy, but I encourage you to keep a close eye on the market. If you have tanks to fill, give us a call, and we can discuss your options and help you decide the right time to purchase.
One way to stay in touch with the market and current events is to get my Daily Market Report. It’s super easy, and I promise not to bother you with worthless junk. Just send your e-mail address to me at jasonrorabaugh(at)rmsi(dot)coop and request to be added to my list. You’ll begin receiving the report right away. Again, thank you for your business and continued support. We look forward to working with you in the coming year. Please let us know if there is any way we can serve you better.
– Jason Rorabaugh