8-27-20 RCC Energy Market Update

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 somewhat ‘recovered’ into the afternoon closing Thursday down -0.0761/cpg. Diesel also experienced another day of selloffs as the September contract is set to expire in a couple days as well after solid gains on both Monday and Tuesday. ULSD finished Thursday’s trading -0.0340/cpg. Crude also experienced some end of the month selling as it closed Thursday’s trading session down -0.35/cents per barrel.