RCC Energy Update 04/20/2018
- Crude up 9 cents @ $68.38. Up 99 cents from last Fridays close.
- RBOB up .75 cents. Up 1.96 cents from last Fridays close.
- HO up .75 cents. Up 1.68 cents from last Friday.
- Gasoline up 1.25 cents today. Up 5 cents from last Fridays close.
- Diesel up 1.5 cents today. Up 4 cents from last Fridays close.
- LP finished down 1.75 cents at the Conway, Kansas hub today. Down .75 cents from last Fridays close.
The White House tweeted late last night that energy prices were artificially high which caused a bit of sell off over night and to start the day. The markets came back with modest gains to Finish the day.
The oil and gas rig count saw another increase this week. Starting reach some numbers that haven’t been seen in a few years. This will be important to watch. It could counter any bullish moves OPEC makes in production cuts.