RCC Energy Update 05/11/18

RCC Energy Update 05/11/2018

 

MARKET MOVES

 

NYMEX: @ 4:PM                                                              

  • June WTI Crude down $0.66 @ $71.89. Up $2.08 from last Friday’s close.                            
  • June RBOB No change. Up 7 cents from last Friday’s close.                                          
  • June HO No change. Up 6 cents from last Friday’s close.                                         

Group 3:

  • Gasoline up 2 cents today. Up 11 cents from last Friday’s close.
  • Diesel down 1 cent today. Up 5 cents from last Friday’s close.

Propane:

  • LP finished up 1.25 cents at the Conway, Kansas hub today. Basically unchanged from last Friday’s close.

MARKET NEWS

Even with the slight loss on crude pricing today, it is at a 41 month high.

U. S. Rig count went up again this past week. 10 new ones coming online. Sixth consecutive weekly increase and a fresh 38th month high.

News from the Middle East will drive the markets again next week with the opening of the new US embassy in Jerusalem, Iran and Israel trading missile strikes, and any more fallout from the US dropping out of Iranian nuclear accords.