RCC Energy update Monday 07/09/2018
NYMEX @ the close.
- August WTI Crude up $0.05 @ $73.85
- RBOB up 4 cents.
- HO up 2.73 cents.
- Gasoline up 4.25 cents today.
- Diesel up 2.25 cents today.
- LP finished up .25 cents at the Conway, Kansas hub today.
Traders ran both products up today on crude oil supply issues.
The big oil sands operation in Canada has changed its restart date from August 1st to sometime mid to late September. This is important to us as they are a big supplier to the Group 3 area.
The libyan civil war is getting worse and their crude production suffers accordingly.
Venezuela isn’t getting better either.
We need to hear some good news or we may see these prices as a new norm.