RCC Energy Market Update:

RCC ENERGY UPDATE: Wednesday 3/28/2018 5:00 PM

NYMEX:

  • Diesel down ¾ of a cent
  • Gasoline down ¼ of a cent
  • Crude down 87 cents @ $64.38/bbl

GROUP 3:

  • Diesel down 1.3 cents
  • Gasoline down 0.70 of a cent

CONWAY:

  • Propane down .125 of a cent

WEEKLY DOE REPORT:

Crude –

  • +0.28MB expected
  • +1.6MB actual

Diesel –

  • -1.6MB expected
  • -2.09MB actual

Gasoline –

  • -1.9MB expected
  • -3.4MB actual

Propane –

  • -1.2MB actual

MARKET UPDATE:

The energy complex was lower today with WTI showing a bit of weakness after the inventory reports were released. U.S. crude inventories rose unexpectedly last week due to heavy imports, gas and distillate inventories fell more than expected according to the EIA. Details surrounding the OPEC and Russia long term oil pact continue to emerge showing OPEC will do anything to bolster the crude benchmarks.