Today’s Market News – June 18
📉 Federal Reserve Meeting: What to Expect
The Federal Reserve (the folks who set interest rates) is meeting today and tomorrow to decide if any changes are needed. Most experts believe they’ll keep interest rates the same, since they’ve been holding them high all year to fight inflation.
One big reason they’re being cautious? New tariffs from President Trump could push prices higher again. While inflation has improved and is close to their goal, the Fed doesn’t want to cut rates too soon and risk another price spike.
📅 What to watch for:
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Fed announcement: Today at 1:00pm CST
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Chairman press conference: 1:30pm CST
🗓 Weekly Economic Report Schedule
Here’s what’s on tap this week:
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Tuesday: Retail Sales (7:30am), API Energy Stocks (3:30pm)
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Wednesday: EIA Energy Report (9:30am), Jobless Claims (7:30am), Fed decision
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Thursday: Markets Closed for Juneteenth
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Friday: Export Sales (7:30am)
🇮🇳 India Buying More Russian Oil
India is now importing more than 2.2 million barrels per day of oil from Russia—about 46% of its total oil needs. They’re taking advantage of cheaper prices, especially with supply tight due to OPEC+ limits.
However, the European Union just announced stricter sanctions against Russian oil. If these go into effect, they could slow down Russian oil exports and shake up the global oil market.
🌍 Market Overview: Oil Prices Climb on Middle East Tensions
Crude oil prices are moving higher again today. This comes after renewed Israeli airstrikes on Iran, stirring fears of possible supply disruptions—especially if trade routes like the Strait of Hormuz are affected.
President Trump has called for evacuations from Iran’s capital, raising more red flags in global markets. Meanwhile, energy reports this week (API and EIA) are expected to show:
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A small drop in crude and diesel inventories
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A slight increase in gasoline stocks
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Refinery usage slipping just a bit
All of this adds to the uncertainty, keeping energy prices volatile.
📊 Energy Highlights – WTI Crude Oil
Yesterday, WTI crude dipped briefly to $69.38, then bounced back toward $72 after Iran signaled a possible truce. Today, prices are climbing again with no major damage yet to oil infrastructure.
Traders are buying on the dips, but markets remain jumpy. Watch for these key price points:
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🛠 Support: $70.94 and $67.92
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📈 Resistance: $77.62 and $78.00
Any new developments overseas could swing prices quickly—so it’s worth keeping an eye on.
📞 Questions about diesel supply or fuel planning this summer? Call your account manager—we’re always here to help.
