RCC Energy Update 8/10/18

RCC Energy update Friday 08/10/2018

MARKET MOVES

NYMEX @ the close.

  • September WTI Crude up $0.82 @ $67.37. Down 86 cents compared to last Friday.
  • September RBOB up 3.93 cents. Down 2.63 cents compared to last Friday.
  • September HO up 2.78 cents. Up 1.28 cents compared to last Friday.

Group 3:

  • Gasoline up 3.25 cents. Up 1.5 cents compared to last Friday.
  • Diesel up 2.75 cents. Up 2 cents compared to last Friday.

Propane:

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

MARKET NEWS

The markets traded up today on a very light trade with non-commercial traders running the market up on three items:

Worry about the sanctions against Iran are in the news as usual.

The concerns on U.S./China trade relations are easing.

Two international energy information companies are predicting higher than originally thought demand for crude & product for the rest of 2018 and through 2019.