News

5-22-20 RCC Energy Market Update

May 22 •

Crude oil and refined product futures finished the day in the red and have not drifted too far from where they were to start Friday morning. Volumes appeared to be thinning out with the Memorial Day holiday weekend approaching. Current estimates for WTI trade are just over 316,600 lots for July. For perspective, yesterday July […]

View Story

5-18-20 RCC Energy Market Update

May 18 •

Confidence in an economic recovery and improved demand have pumped up the value of crude oil and refined products to more than two-month highs. June WTI expires tomorrow and is going out in strong fashion, trading as high as $33.32 this morning closing +$2.39. Refined product futures were also on the rise this morning with […]

View Story

5-15-20 RCC Energy Market Update

May 15 •

Energy finished up today as headlines around production cuts and product demand has been providing support to the market as we move into the weekend. Crude oil finished +$1.87, RBOB ended the day +$0.0557, and diesel trailed the other products +$0.0256.

View Story

5-13-20 RCC Energy Market Update

May 13 •

Markets closed negative today, even after the DOE reports were released this morning showing considerable draws in gasoline and a smaller draw on crude oil, the first time in 15 weeks for crude oil. According to OPIS, the reason for the down day is the rout seen today in the financial markets, U.S. markets were […]

View Story

5-12-20 RCC Energy Market Update

May 12 •

Markets were mixed today as headlines around increased demand, with pockets around the globe supporting crude oil. Oil prices have been battered by COVID-19, demand destruction has been seen around the world, efforts to contain the virus are being implemented. It appears that crude has been making a slow recovery in recent trading periods, as […]

View Story

5-8-20 RCC Energy Market Update

May 8 •

The energy complex was able to close the day with gains seen across the board.  Oil prices settled 5% higher in their second week of positive ground made up after the demand destruction caused by covid-19 as U.S producers cut production with the number of drilling rigs falling to a record low and as more […]

View Story

5-7-20 RCC Energy Market Update

May 7 •

The futures complex spent most of the morning in positive territory, supported by EIA inventory data and reports that Chinese exports had climbed last month as well as news that Saudi Arabia had raised its official selling price for oil.  Rbob futures saw the most activity today as they closed the day in positive territory […]

View Story

5-6-20 RCC Energy Market Update

May 6 •

Unlike the last few trading periods, losses were seen across the complex today as U.S. crude stockpiles rose less than expected.  Diesel stocks rose by 9.5 million barrels in today’s report, triple the expectation, driving the markets lower.  Gasoline demand rose a bit last week as inventories were down 3.2 million barrels, lower than the […]

View Story

5-5-20 RCC Energy Market Update

May 5 •

Gains were seen across the complex today as the complex was supported by the rhetoric of increasing demand as quarantines are easing up.  Additional support was seen as expectations of a smaller crude build and another draw on gasoline inventories are expected. The API report is due out this afternoon while the actual inventory report […]

View Story

5/4/20 RCC Energy Market Update

May 4 •

The day started out mixed, as the energy complex rallied for gains across the board at the settle.  Gasoline futures were the big winner as  front month futures closed $0.0552 higher despite the lack of news to account for the gains seen.  This could suggest that demand is rebounding and could continue to rally as […]

View Story