RCC Energy update Monday 08/20/2018
NYMEX @ the close.
- September WTI Crude up $0.52 @ $66.43
- RBOB up 3.42 cents.
- September HO up 1.56 cents.
- Gasoline up 3.25 cents.
- Diesel up 1.5 cents.
- LP finished up 1.5 cents at the Conway, Kansas hub.
The markets are waiting on Tuesday/Wednesday industry information, expecting to hear bullish news over the next 48 hours.
This was in the face of a huge sell off of crude by the strategic petroleum reserve as analysts felt it was already factored into the market.
We shall have to wait to see if the traders pessimism on the market is warranted.