RCC Energy Market Update:

RCC ENERGY UPDATE: Wednesday 3/7/2018 5:00 PM

NYMEX:

  • Diesel down 2.87 cents
  • Gasoline down 2.28 cents
  • Crude down $1.45 @ $61.15/bbl

GROUP 3:

  • Diesel down 3.10 cents
  • Gasoline down 3.30 cents

CONWAY:

  • Propane down 2.75 cents

WEEKLY DOE REPORT:

Crude –

  • +2.7MB expected
  • +2.40MB actual

Diesel –

  • -1.2MB expected
  • -0.6MB actual

Gasoline –

  • -1.2MB expected
  • -0.8MB actual

Propane –

  • -1.6MB actual

MARKET UPDATE:

A weak day on Wall Street also contributed to falling oil prices as concerns over Washington’s plans for import tariffs could create a trade war.  The resignation of Gary Cohn, the economic advisor to President Trump also helped push Wall Street down.

Losses were seen across the board today with WTI losing 1.45, heating oil .0287 and gasoline .0228.