RCC Energy Market Update:

RCC ENERGY UPDATE: Wednesday 2/14/2018 5:00 PM

NYMEX:

  • Diesel up 4.75 cents
  • Gasoline up 2.77 cents
  • Crude up $1.41 @ $60.6/bbl

GROUP 3:

  • Diesel up 4.8 cents
  • Gasoline up 2.8 cents

CONWAY:

  • Propane up 2.5 cents

WEEKLY DOE REPORT:

Crude –

  • +2.8MB expected
  • +2.3MB actual

Diesel –

  • -1.1MB expected
  • -0.5MB actual

Gasoline –

  • +1.1MB expected
  • +3.6MB actual

Propane –

  • -3.3MB actual

MARKET UPDATE:

Comments from Saudi Energy Minister Khalid al-Falih that OPEC would be better off to leave the oil markets a little tight of supply rather than ending their output cuts early.  Whether that’s the reason or the excuse the market was able to pop back.  Can the bears regain some control and push the market back lower or have we seen the low as of this point and traders are poised to keep the market steady to higher moving forward?