RCC Energy Update 06/22/18

RCC Energy update Friday 06/22/2018

MARKET MOVES

NYMEX @ the close.

  • WTI Crude up $3.04 @ $68.58 (6% gain from last Friday)
  • RBOB up 5.82 cents. (3% gain from last Friday)
  • HO up 5.53 cents. (1.84% gain from last Friday)

Group 3:

  • Gasoline up 5 cents today. Up 3 cents over last Fridays close.
  • Diesel up 5.25 cents today. Up 4 cents over last Fridays close.

Propane:

  • LP finished up 1.25 cents at the Conway, Kansas hub today.

MARKET NEWS

The bulls charged hard through energy markets today on news from the Vienna OPEC meeting that they have agreed upon a very modest crude production increase of 600K bpd. This was on the very low end of what was hoped for.

Small loss of one rig on the US Rig count this week. First decline since late March, though still 104 higher than last year at this time.