RCC Energy Update 05/08/2018
NYMEX: @ 4:PM
- June WTI Crude up $2.08 @ $71.14
- June RBOB up 5.6 cents.
- June HO up 6 cents.
- Gasoline up 6.25 cents today.
- Diesel up 6 cents today.
- LP finished up almost 2 cents at the Conway, Kansas hub today.
The bulls were out in force today. In fact, they were charging.
The DOE report this morning had huge draws on crude and gasoline along with a big increase in implied gasoline demand also.
The non-commercial buyers are keeping their bullish stance too with the DOE news and the US pulling out of the Iranian nuclear accords.
The last few days and weeks have really set the market up to possibly make quite a run. Will it last or have we made a move into new territory?