RCC Energy Update Friday 5:00 PM 1/26/2018
- Diesel up 2.06 cents on the day
- Up 7.76 cents from LAST Friday
- Gasoline up 2.23 cents on the day
- Up 7.41 cents from LAST Friday
- Crude up 63 cents @ $66.14 on the day
- Up $2.77 from LAST Friday
- Gasoline up 3.5 cents on the day
- Down 0.015 of a cent from LAST Friday
- Diesel up 2.1 cents on the day
- Up 0.02 of a cent from LAST Friday
- LP up 1.25 cents on the day
- Down 8.875 cents from LAST Friday
- Despite a little pullback late in the day yesterday as well as a slow start this morning, the market rally continues onward as the complex was higher across the board today. Products fared better than crude as ULSD diesel broke through recent highs and settled (+$0.0206) with cold weather continuing to keep the contract supported. RBOB gas also had a solid showing (+$0.0223) to the upside. Much of this strength appears to be due to upcoming refinery maintenance particularly at Bayway refinery in New Jersey.
- The Baker Hughes weekly rig count showed an increase of 12 oil rigs (bringing the total to 759) which compares to 566 of them just one year ago. Even this increase couldn’t keep crude in check as WTI crude had a positive day with an increase of $0.63 (to $66.14) which was a bit shy of the $66.66 recent high established yesterday.