RCC Energy Update 9/26/18

RCC Energy update Wednesday 09/26/2018

MARKET MOVES

NYMEX @ the close.

  • October WTI Crude down $0.71 @ $71.57
  • RBOB down .92 cents.
  • October ULSD down .55 cents.

Group 3:

  • Gasoline down 4 cents.
  • Diesel down .5 cents.

Propane:

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

MARKET NEWS

Weekly DOE report out at 9:35 AM today:

Crude was a bit bearish today. US crude stocks increased for the first time in 6 weeks with a 1.9 MBL build. The overall inventories are still low compared to last year as current inventory is almost 16% below last year at this time.

Diesel was bullish with a larger than expected draw of 2.2 MBL and an implied demand increase for the fourth straight week.

Gasoline was bearish with a larger than expected build on stocks of 1.5 MBL. Gasoline supply is at an all- time record high for this time of year.