Hedge Recommendation: Fuel prices decline into projected time window.
Consider forward hedging spring fuel prices if you haven't already done so, as April Heating Oil has declined into the 38% retracement of the recent price rise. Pricing support should be in the 2.20-2.25 range
Crude oil is experiencing the decline into our current projected low pricing either this Friday, November 19, or Monday, November 22.
Crude oil pricing should make a low above $74.00. If prices close below that level, it would imply a more dynamic shift in fundamentals for oil pricing in 2022.