8-12-20 RCC Energy Market Update

Aug 12 •

The energy complex closed higher today as the market was pushed up by a bullish inventory report. The EIA showed strong demand for gasoline in the most recent week, helping keep petroleum futures climbing through the session on Wednesday. WTI finished the trading session up $1.06/bbl to $42.67/bbl, the highest point for a front-month contract […]

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8-11-20 RCC Energy Market Update

Aug 11 •

The morning rally that had WTI futures flirting with $43/bbl ran into a wall of selling that pushed prices lower in the afternoon. No major headlines were sited for turning the markets around, but some traders continue to believe WTI will continue to struggle sustaining rallies. Gasoline could be to blame for the turn in […]

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8-3-20 RCC Energy Market Update

Aug 3 •

Oil prices rose during today’s session on higher equities, sensitive to the possibility of a second stimulus, along with encouraging economic data from Asia with the Chinese manufacturing data for July showing a better number than previously forecasted.   Marathon had a couple big stories in the news with the sale of their Speedway stores for […]

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7-30-20 RCC Energy Market Update

Jul 30 •

The energy complex struggled from the start in today’s session and fell into a free fall after weak US economic data was released. It resulted in the largest one-day drop in crude oil futures in more than a month and closed below $40 per barrel. Petroleum products were also sharply down on the day but […]

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7-28-20 RCC Energy Market Update

Jul 28 •

It was a pretty lackluster day of trading today as crude oil gave back gains made from yesterday and petroleum products continued the move lower. There is an expectation of difficult conversations over the next several days between Republicans and Democrats on the next economic stimulus package as the United States continues to recover from […]

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7-27-20 RCC Energy Market Update

Jul 27 •

The past few weeks have shown an overall balanced energy complex, today was no different. The energy complex ended the day mixed with crude oil managing to bounce out of red figures and into positive territory while petroleum products ended the day moving slightly lower. It was an active day for all products starting out […]

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7-10-20 RCC Energy Market Update

Jul 10 •

Overnight and morning losses have disappeared Friday as a wave of buying has helped crude oil and refined product futures recover a large chunk of the losses from yesterday. RBOB was the leader throughout Friday, with the August contract finishing up +0.0326/cpg. Most of the RBOB gains were concentrated in the front-month contract helping to […]

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7-7-20 RCC Enregy Market Update

Jul 7 •

Tuesday produced few market-moving headlines throughout the day, and that is reflected across multiple asset classes as U.S. equities are trading just about flat as is the dollar index. Crude oil and ULSD product futures were much the same as volumes appeared to be on the lighter side, and trading ranges are relatively tight with […]

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7-6-20 RCC Energy Market Update

Jul 6 •

Petroleum futures finished Monday mixed across the board, and the clear catalyst is yet another staggering increase for global markets, which appear to be dismissing any threats from the coronavirus pandemic. Gains in some foreign equities markets were in excess of 6%, and U.S. equity indices rose 1.5%-2.4% Monday morning, despite rising case numbers of […]

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7-1-20 RCC Energy Market Update

Jul 1 •

Crude oil and product futures gave back some earlier gains, but still managed to finish positive on the day, as a bullish inventory report helped to overshadow concerns about the demand impact of a resurgent coronavirus disease. WTI finished $.55 higher, after the EIA report that showed crude oil stocks sank by 7.2 million bbls […]

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