Name Your Price: The Tank Tiger and the Volatile Markets – A Look at Storage, Rates, and Oil Prices
Who remembers the old Priceline commercials? William Shatner, with his compelling narrative, would tell us all about how we can get hotel rooms and air transportation at whatever price we wanted. All we had to do was name our price. We could go as low as we wanted, and no one would know what a cheapskate you were because it was all anonymous and the worst thing that would happen would be that you could just bid again any time you wanted. Sounds like a pretty good deal, right? Well guess what. With The Tank Tiger, you can do exactly the same thing. You can NAME YOUR PRICE for tank storage and put in the bid anonymously through our online platform or by asking us to do it for you. The process is free to use and you can do it as often as you like. So if you’ve been thinking about storage but maybe only want to get it at YOUR PRICE, it’s time for you to check out The Tank Tiger. Promise. Vulcans don’t lie and TJ Hooker won’t bust you for excessive use of The Tank Tiger. Sign up here for free
The stock market has been taking some body blows at the mercy of the relentless rise in interest rates. Last week was the worst in a month for equities with additional pressure being put on by the threat of an escalation to the Middle East war. The yield on the benchmark 10-year Treasury exceeded 5% for the first time in 16 years last week. Of course, this means higher rates on mortgages, credit cards, auto loans and the free money that Private Equity had been throwing around willy nilly for several years. For gray haired retired folks, they welcome the additional jing in their savings accounts. There’s always a pony in there somewhere.
Oil prices have increased for two consecutive weeks with the fear of more actors jumping into the Middle East conflict. The direct impact on oil prices could be the negative influence it would have on oil transit in the region. So far, oil has been going wherever it wants to go. However, clamping down on Iran would mean a real curtailment of global oil supply that may or may not be mitigated by increased exports from our new friends in Venezuela. If prices do cross the $100 a barrel line, it’s likely there will be demand destruction as a result. At that point, we’d probably see OPEC+ capitulate and let more oil out. Traders trying to guess 10 moves ahead most likely will be ducking fastballs with chin music on them as the news comes out as fast as the world turns. Of course, if traders are feeling froggy, they might as well go ahead and jump. Half of them will be right. Brent crude futures settled at $92.16 a barrel, while WTI crude for November delivery closed at $88.75 a barrel – for the second straight weekly climb. U.S. inventories showed significant decreases, which is real data that is always worth watching. Of course, it provides an opportunity to grab some very reasonably priced Cushing storage. Go ahead. Name your price!
