RCC Energy Update 10/31/18

RCC Energy update Wednesday 10/31/2018

MARKET MOVES

NYMEX @ the close.

  • December WTI Crude down $0.87 @ $65.31
  • November RBOB down 3.79 cents.
  • November ULSD up .02 cents.

Group 3:

  • Gasoline down 7 cents.
  • Diesel down 1.5 cents.

Propane:

  • LP finished down 1.75 cents at the Conway, Kansas hub.

MARKET NEWS

Weekly DOE report:

Crude – 3.2 MB build.

Diesel – 4.1 MB draw.

Gasoline – 3.2 MB draw.

The crude build offset the draws in the products. Even though gasoline had a good draw, it is still well above last years levels at this time.

Reports of big crude production rate increases in Russia and Saudi Arabi are also pushing markets lower.