RCC Energy update Wednesday 10/31/2018
NYMEX @ the close.
- December WTI Crude down $0.87 @ $65.31
- November RBOB down 3.79 cents.
- November ULSD up .02 cents.
- Gasoline down 7 cents.
- Diesel down 1.5 cents.
- LP finished down 1.75 cents at the Conway, Kansas hub.
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.