RCC Energy Market Update:

RCC ENERGY UPDATE: Wednesday 1/24/2018 5:00 PM

NYMEX:

  • Gasoline up ¾ of a cent
  • Diesel up 2 cents
  • Crude up $1.14 @ $65.61bbl

GROUP 3:

  • Gasoline up ¾ of a cent
  • Diesel up 1.5 cents

CONWAY:

  • Propane up 1.25 cents

WEEKLY DOE REPORT:

Crude –

  • 6MB draw expected
  • 1MB draw actual

Diesel –

  • 5MB draw expected
  • 600,000 build actual

Gasoline –

  • 48MB build expected
  • 1MB build actual

MARKET UPDATE:

WTI crude was able to settle above $65 and set a new recent high for a settle at $65.61 (a gain on the day of $1.14) which is the highest close since December 2014.  A key reason for today’s push upward on crude is that Cushing OK crude stocks have fallen an eye-popping 25 million barrels since early November.