RCC Energy Update 5/31/18

RCC Energy Update 05/31/2018

 

MARKET MOVES

 

NYMEX: @ the close.                                                              

 

• July WTI Crude up $1.48 @ $68.21                            
• June RBOB up  4 cents.                                          
• June HO up 4.6 cents.                                          

 

Group 3:

• Gasoline up 3.5 cents yesterday.
• Diesel up 4 cents yesterday.

 

Propane:

 

• LP finished up  1.75 cents at the Conway, Kansas hub yesterday.  

 

MARKET NEWS

 

No DOE report today due to the Memorial Day holiday. The report will be out tomorrow shortly after 10:AM.

 

The bears had been out for a few days until yesterday.

 

All though the DOE report is delayed, pre-report rumors about big draws drove the futures market up today and brought group 3 pricing along with it.

 

Also contributing to the futures upswing was an OPEC report that they are going to continue production cuts through 2018 and will adjust them as needed.     

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