RCC Energy Update Friday 5:00 PM 2/23/2018
- Diesel up 1.67 cents on the day
- Up 5.9 cents from LAST Friday
- Gasoline up 4.28 cents on the day
- Up 5.76 cents from LAST Friday
- Crude up 78 cents @ $63.55 on the day
- Up $1.68 from LAST Friday
- Diesel up 1.60 cents on the day
- Gasoline up 2.80 cents on the day
- LP up 3.0 cents on the day
- Down 0.25 of a cent from LAST Friday
Energy markets started out the day flat to slightly lower but were once again able to find strength throughout the session to close higher going into the weekend. It seemed as of the morning report that a subdued day may be in store but it was not to be with the RBOB contract leading the charge higher to close 4.28 cents stronger on the day
Bullish news for gasoline also came from the U.S. Dept. of Transportation today that motorists drove 1.2 percent more miles on U.S. roads in 2017 versus 2016. Drivers logged 3.208 trillion miles in 2017 compared to the 3.169 trillion in 2016.
The Baker Hughes rig report released around mid-day today showed U.S. oil rigs increased by 1 on the week to 799, 197 more rigs than a year ago.