RCC Energy update Wednesday 09/12/2018
NYMEX @ the close.
- October WTI Crude up $1.12 @ $70.37
- RBOB up 2.06 cents.
- ULSD up .57 cents.
- Gasoline up 1.25 cents.
- Diesel no change.
- LP finished up 1 cent at the Conway, Kansas hub.
Florence is obviously dominating the market. The traders are easing there position a bit, as the market run slowed on gasoline and diesel.
The weekly DOE report had conflicting data, which probably gives a better reflection on what happened in the market.
Crude had a larger than expected draw, but both products had larger than expected builds.
We will have to see exactly what happens with Florence and where these next to storms are heading.