News

9-23-20 RCC Energy Market Update

Sep 23 •

Oil markets were relatively quiet during today’s trading session, minimally reacting to the EIA stock data which reported draws on WTI and refined products.  Oil inventories declined by 1.6 million barrels, causing oil to rise, but it didn’t have the momentum to sustain the increase.  At the settle, oil closed higher by $0.13.  RBOB rose […]

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9-21-20 RCC Energy Market Update

Sep 21 •

Petroleum futures finished sharply lower today, with the contracts giving back a healthy portion of last week’s gains.  Prices fell below $40 where WTI traded down the 10 day moving average before rebounding slightly to finish the day with an overall decrease of $1.80 from this morning’s open.  Concerns continue over weakening global demand, triggered […]

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9-16-20 RCC Energy Market Update

Sep 16 •

It was another strong day for the energy markets as the entire complex managed to close significantly higher. The release of the US inventory report this morning confirmed a draw down of crude oil inventories, however, less than what was expected from the API report. Refined products were split as gasoline inventories also fell and […]

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9-8-20 RCC Energy Market Update

Sep 8 •

The day finished just as it started, showing significant losses. WTI finished down just over 3 dollars and both products down over 7 cents. As mentioned in this morning’s report the fundamental focus of supply and demand was the focus on the day’s trade. While COVID-19 remains in focus and crude oil producers continue to […]

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8-28-20 RCC Energy Market Update

Aug 28 •

After an up-and-down week for RBOB, the front end of the curve is ending the week with solid gains, though on relatively light trading volumes. September RBOB reached a high this afternoon and ended the day closing +0.0310/cpg. The ULSD contract was also moving higher but with more modest gains compared to the RBOB contract, […]

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8-27-20 RCC Energy Market Update

Aug 27 •

Official storm damage estimates have slowly filtered in throughout the day from Louisiana and Texas, but the futures throughout much of the day did not wait for the details. While September RBOB only has two more days of trading before expiration, sellers took the contract down by as much as -0.09/cpg around midmorning as it […]

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8-25-20 RCC Energy Market Update

Aug 25 •

After early strong moves across the petroleum complex and a cooling off around midday, petroleum futures still ended up with gains across the board. The better gains were in September RBOB as Hurricane Laura picks up strength and has already caused more than a half-dozen precautionary closures. September RBOB at one point was up well […]

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8-24-20 RCC Energy Market Update

Aug 24 •

RBOB and ULSD futures were trading higher early Monday ahead of Tropical Storm Marco’s arrival in southeast Louisiana later in the day, while crude futures were registering lighter gains. Hurricane warnings in effect on Sunday for Marco have been lifted, but tropical storm and surge warnings remain in effect for Louisiana’s southeast coast east through […]

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8-21-20 RCC Energy Market Update

Aug 21 •

Markets were down today on headlines of slowly recovering demand, OPEC+ production, and tropical storm predictions in the Gulf of Mexico. Products did make a slow recovery off session lows today, as the strength of the US Dollar and speculation of Libyan oil exports in October effected markets. Rig counts increasing in the Permian basin […]

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8-18-20 RCC Energy Market Update

Aug 18 •

Crude oil (WTI) made a run into positive territory today and hitting $42.99 before slipping back negative at the close. Refined products also made a run into positive territory, which in earlier hours of the trading period helped pull crude oil up. Products, unlike crude, were able to maintain their positive trajectory and finished the […]

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