7-7-20 RCC Enregy Market Update

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 most front-month contracts remaining inside of yesterday’s range. With that being said, crude finished the day -0.01/bbl while ULSD August futures finished the day +0.0016/cpg. RBOB on the other hand saw some bolster after the U.S. Energy Information Administration again adjusted their forecast for average prices throughout 2020 and 2021. With that said, RBOB finished the day +0.0342/cpg.