05.02.2024
UCO, heating oil spread widens
Yellow grease traded as low as 34 cents per lb delivered Carolinas on Thursday May 2, with additional volume heard at 36 cents per lb. Despite the decrease, offers...
The supply and demand balance continues to be debated, as rig count continue to decline in both the U.S. and abroad. While demand is expected to rise according to the latest EIA international energy outlook, so is supply unless outages hamper producer’s ability to provide ample petroleum. Production in the U.S. has dropped as rig counts have dropped from a high 2-years ago above 1,800 down to 415 as of May…