Tidbits, Gains & Profit Taking, Black Sea, Crude Oil, Tour Day 3, Broilers & Ethanol 8/20/26
- Wright team
- 2 days ago
- 4 min read
Tidbits
The U.S. President announced late on Tuesday he was putting a three-day pause on new 50% tariffs set to go into effect on Canadian goods yesterday, saying the two countries had reached a deal.
U.S. crude oil inventories rose by 4.4 million barrels to 428.8 million barrels in the week ended August 14, marking a third consecutive weekly increase. Gasoline stocks rose by 0.7 million barrels and the market was looking for a decline, while distillate stockpiles fell by 1.5 million barrels to 105.6 million and almost no change was expected.
According to AAA, the national average for regular gasoline is $4.08 per gallon today, up 5¢ from a week ago. The national average for diesel is $5.50 per gallon, up 15¢ from a week ago.
The Black Sea:
The Russian military claims to have struck 2 dry cargo ships near Ukraine’s port of Odessa and fuel tanks in the port of Chornomorsk, while Ukraine struck 5 grain ships near the Russian ports of Novorossiysk and Tuapse. All grain terminals in Novorossiysk remain closed.
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