RCC Energy Market Update:

RCC Energy Update Friday 5:00 PM 2/2/2018

NYMEX:

  • Diesel down 3.69 cents on the day
    • Down 8.25 cents from LAST Friday
  • Gasoline down 2.38 cents on the day
    • Down 6.57 cents from LAST Friday
  • Crude down 35 cents @ $65.45 on the day
    • Down 69 cents from LAST Friday

GROUP 3:

  • Gasoline up 1.6 cents on the day
    • Up 0.0175 from LAST Friday
  • Diesel up 3.1 cents on the day
    • Up 0.02 of a cent from LAST Friday

CONWAY:

  • LP down 2.25 cents on the day
    • Down 1.5 cents from LAST Friday

MARKET UPDATE:

Oil prices went into the weekend with losses across the board as a strong dollar helped force downward pressure on the complex.  Helping the dollar strengthen was a positive jobs report as nonfarm payrolls increased by 200,000 in January.  Baker Hughes reported that drillers added six oil rigs bringing the total up to 765, the highest level since August 2017.  Going into next week I would continue to suggest that any dips in the market should be seen as buying opportunities.