4-13-20 RCC Energy Market Update

Throughout the day we saw products remain relatively elevated while WTI crude held fairly flat through much of the day as traders digested the oil production cut news from yesterday. As ULSD and RBOB started the day in the black it gained slight momentum as the day went on with continued tweets from President Trump giving more detail surrounding the OPEC+ meeting and their agreements. Not only that, but eyes continue to be on the number of cases of COVID-19 being reported as New York surpassed 10,000 deaths related to the virus while U.S. deaths are nearing 23,000. As the week continues on, expect it to be filled with additional production cut and COVID-19 updates.