RCC Energy Market Update

MARKET MOVES

 

NYMEX: @ 4:PM                                                              

  • June WTI Crude up $1.37 @ $69.81. Up $1.71 from last Friday’s close.                            
  • June RBOB up  2.8 cents. Down 1 cents from last Friday’s close.                                          
  • June HO up 4.25 cents. About even from last Friday’s close.                                         

Group 3:

  • Gasoline up 3.5 cents today. Up 4 cents from last Friday’s close.
  • Diesel up 5.25 cents today. Up 7 cents from last Friday’s close.

Propane:

  • LP finished down 1.625 cents at the Conway, Kansas hub today. 6.875 cents lower than last Friday’s close.

MARKET NEWS

The bulls were out strong today on, you guessed it, more Iranian news. It looks like they are in full mode to restart their nuclear facility.

This was in spite of a rise in the US rig count for the 5th consecutive week. That’s up 131 rigs on the year and 38th month high at 834.