The following Petro-Card 24 locations are temporarily closed for renovations:

• Mound City (1314 State St.)
• Owensville (1658 Hwy 28)

  • Find Us
  • Contact Us
  • Check Gift Card Balance
  • Become a Customer
  • Pay Your Bill
  • Pay
logologologologo
(800) 366-0200
  • Fuels
    • Quality Fuel Products
      • REVital Gasoline
      • BOSS Diesel
      • Renewable Fuels
    • Fuel Contracting
    • Wholesale Fuels
    • Fuel & Oil Analysis
    • Petro-Card 24
    • Credit Cards
    • Become a Customer
  • Propane
    • For Your Home
      • Furnaces & Boilers
      • Water Heating
      • Residential Generators
      • Appliances
      • Fireplaces
      • Outdoor Living
    • For Your Farm
      • Grain Drying
      • Irrigation
      • Poultry House Heating & Sanitation
      • Livestock Barn Heating
      • Agriculture Generators
    • For Your Business
      • Construction
      • Forklifts & Material Handling
      • Landscaping
      • Greenhouses & Nurseries
      • Commercial Heating & Cooking
    • Propane Programs
    • Tank Options
    • Tank Leasing & Maintenance
    • Propane Safety
    • Become a Customer
  • Oils & Lubricants
    • Motor & Engine Oils
    • Tractor, Transmission & Torque Fluids
    • Greases
    • Industrial Oils
    • Antifreeze & Coolants
    • Other Products
    • Limited Warranty Program
    • Fuel & Oil Analysis
    • Lube Advisor
  • Solar
  • Retail
    • Big O Tires
    • Break Time
    • Gift Cards
    • Credit Cards
    • Become a Customer
  • About Us
    • Co-op Membership
    • Community Involvement
    • Core Values
    • Sustainability Values
    • Board of Directors
    • Executive Officers
    • News
  • Careers
    • Current Openings
    • Hiring Process
    • Corporate Offices
    • Fuel & Propane
    • Break Time
    • Big O Tires
    • Internships
  • Request More Info
  • Fuels
    • Quality Fuel Products
      • REVital Gasoline
      • BOSS Diesel
      • Renewable Fuels
    • Fuel Contracting
    • Wholesale Fuels
    • Fuel & Oil Analysis
    • Petro-Card 24
    • Credit Cards
    • Become a Customer
  • Propane
    • For Your Home
      • Furnaces & Boilers
      • Water Heating
      • Residential Generators
      • Appliances
      • Fireplaces
      • Outdoor Living
    • For Your Farm
      • Grain Drying
      • Irrigation
      • Poultry House Heating & Sanitation
      • Livestock Barn Heating
      • Agriculture Generators
    • For Your Business
      • Construction
      • Forklifts & Material Handling
      • Landscaping
      • Greenhouses & Nurseries
      • Commercial Heating & Cooking
    • Propane Programs
    • Tank Options
    • Tank Leasing & Maintenance
    • Propane Safety
    • Become a Customer
  • Oils & Lubricants
    • Motor & Engine Oils
    • Tractor, Transmission & Torque Fluids
    • Greases
    • Industrial Oils
    • Antifreeze & Coolants
    • Other Products
    • Limited Warranty Program
    • Fuel & Oil Analysis
    • Lube Advisor
  • Solar
  • Retail
    • Big O Tires
    • Break Time
    • Gift Cards
    • Credit Cards
    • Become a Customer
  • About Us
    • Co-op Membership
    • Community Involvement
    • Core Values
    • Sustainability Values
    • Board of Directors
    • Executive Officers
    • News
  • Careers
    • Current Openings
    • Hiring Process
    • Corporate Offices
    • Fuel & Propane
    • Break Time
    • Big O Tires
    • Internships
  • Request More Info

All Market Commentary

Prices Are Under Pressure as Supply Builds

October 7, 2019

Crude oil and refined fuel products prices closed lower yesterday after rising to a one month high early in the trading day for both Brent crude oil and WTI crude oil. Brent hit a high of $62.34 and WTI hit a high of $56.92. The selling pressure came from poor economic data out of China again bringing light to possible weak energy demand. The lower close on Monday was a change from four consecutive days of the market being higher on the back of OPEC+ talk of additional production cuts.

Iraq declared a curfew in Baghdad on Monday as anti-government protests in which over 200 people have been killed entered its fourth day. The unrest, driven by discontent over economic hardship and deep-seated corruption, has broken nearly two years of relative stability in Iraq. Parliament passed measures on Monday aimed at placating the protesters, but many said this was too little too late.

The largest banking lenders in the US oil and gas sector are becoming more cautious, cutting their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on producers. Major banks, including JPMorgan Chase, Wells Fargo and Royal Bank of Canada have as part of regular biannual reviews, cut their estimated values for oil-and-gas companies’ reserves, which serve as the basis for those companies to receive reserve-based loans. While the size of the reserve-based loans market is unclear, it is estimated that a few hundred companies take such loans, with the cumulative size in the billions of dollars. Eight sources indicated larger banks have set their price decks, the industry term for the value they ascribe to hydrocarbons behind the reserve-based loans, with oil between $46 and $51 per barrel for the next five years.

Saudi Arabia’s Energy Minister, Price Abdulaziz Bin Salman, and his US counterpart, Rick Perry, discussed the oil markets and coordinating production between OPEC and non-OPEC producers. They stated that the two countries would work together to ensure the security of the global energy supply.

Energy prices under some selling pressure today from the outlook that inventories could again show a build in crude stocks. Some analysts are looking for a big build at Cushing, Ok which could put some selling pressure on the market.

Russia making comments that it is still too early to make any decision about more production cuts also supportive to the bears efforts today.

Negative Global Outlook Cools Energy Demand
POTUS Optimistic on Chinese Negotiations

FIND YOUR LOCATION

MFA Oil Fueled
MFA Oil’s Digital Newsletter
Fueled Footer Subscribe

Receive Updates

NEWS

  • Digital Newsletters
  • Press Releases
  • Momentum Magazine
  • Market Commentary

CUSTOMER SERVICE

  • Become a Customer
  • Pay Your Bill
  • Request More Info
  • Gift Cards
  • Safety Data Sheets

GIVING BACK

  • MFA Oil Foundation
  • MFA Foundation
  • Golf Tournament
  • Community Giving

JOIN MFA OIL

  • Career Opportunities
    • UHC Transparency In Coverage
  • Selling Your Business

Contact Us

Copyright © 2025 MFA Oil Company. All rights reserved. Use of this website constitutes acceptance of our Privacy Policy.