RCC Energy Market Update:

RCC Energy Update Friday 4:30 PM 4/6/2018

NYMEX:

  • Diesel down 1.87 cents on the day
  • Gasoline down 2.69 cents on the day
  • Crude down $1.48 @ $62.06 barrel on the day

GROUP 3:

  • Diesel down 2.40 cents on the day
  • Gasoline down 3.70 cents on the day

CONWAY:

  • LP neutral on the day
    • Down 5.75 cents from LAST Friday

MARKET UPDATE:

President Trump’s proposal regarding another $100 billion dollar in tariffs weighed heavily on the market today. The correlation between crude and the DOW continued today as crude closed down nearly $1.50 and the DOW was down over 700 at one point. Also weighing on the market was the Baker Hughes rig report which was released today showing U.S. oil rigs up 11 to 808.

 

Have a great weekend!