RCC Energy Update 9/14/18

RCC Energy update Friday 09/14/2018

MARKET MOVES

NYMEX @ the close.

  • October WTI Crude up $0.40 @ $68.99. Up $1.24 from last Friday.
  • October RBOB down 2.27 cents. N/C from last Friday.
  • October ULSD down 1.43 cents. Down .09 cents from last Friday.

Group 3:

  • Gasoline down 1 cent. Up 1.75 cents from last Friday.
  • Diesel up 3/4 cent. Down 1/2 cent from last Friday.

Propane:

  • LP down 3/4 cent at the Conway, Kansas hub.

MARKET NEWS

Hurricane Florence, trade wars, and a tightening oil supply with Iranian sanctions/Venezuelan problems were the weeks headlines. Not changing much lately.

I’ve read several different commentators that are predicting that we might not see that Thanksgiving/Super Bowl market dip this year due to the aforementioned Iranian sanctions/Venezuelan problems. Stay in touch with your fuel guy to help make your plans for next year.

Positive market news: The active US oil rig count increased by 7 this week to 867. That is a 3 year, 6 month high. Canada is up a whopping 36 active oil rigs over this time a year ago.