Energy Market Update:

RCC ENERGY UPDATE: Wednesday 3/14/2018 5:00 PM

NYMEX:

  • Diesel up 1.32 cents
  • Gasoline up 3.80 cents
  • Crude up 25 cents @ $60.96/bbl

GROUP 3:

  • Diesel up 1.30 cents
  • Gasoline up 3.80 cents

CONWAY:

  • Propane up 2.5 cents

WEEKLY DOE REPORT:

Crude –

  • +2.02MB expected
  • +5.0MB actual

Diesel –

  • -1.5MB expected
  • -4.4MB actual

Gasoline –

  • -1.17MB expected
  • -6.3MB actual

Propane –

  • -2.3MB actual

MARKET UPDATE:

Propane had a draw of 2.3MM barrels which is more than expected and exports were up but not at nameplate capacity. Demand continued to be strong as production is still at record pace. There are two spot cargoes that were moved from the east coast to the gulf recently and that is pushing the spot market up at Belvieu. Conway was lagging to the upside yesterday but has moved up more than Belvieu so far today. We’ll see if the flat report will take some of the steam out of Conway later today. Massive draws for RBOB and ULSD shot the market up initially but Crude is back down in the red.