6-26-20 RCC Energy Market Update

Jun 26 •

The complex ended the week with more losses seen today, and you guessed it, coronavirus fears grow as due the amount of infected cases.  Additionally there are growing concerns about rising U.S. output ticking up while crude stockpiles sat at record highs.  Early gains supported by optimism over rising road traffic boosting fuel demand, were […]

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6-24-20 RCC Energy Market Update

Jun 24 •

The complex started off with light losses but finished quite a bit lower due to a few key factors.  The inventory report showed that U.S. crude inventories climbed by 1.4 million barrels, while distillates rose by 249,000 bbls. Gas inventories shrank by 1.7 million barrels. The declines seen today are largely due to the scare of […]

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6-23-20 RCC Energy Market Update

Jun 23 •

Petroleum futures started out with gains seen across the board, however failed to hold in positive territory at the settle. Early news that the U.S. / China trade deal was on thin ice, however was corrected later yesterday evening, however the markets stayed on the defensive amidst future concerns if Chinese continuing to buy U.S. […]

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6-22-20 RCC Energy Market Update

Jun 22 •

The energy complex finished the day with gains seen across the board as WTI crude oil rallied higher, pulling the products with it.  Oil rose more than 1% today as tighter supplies from major producers and as covid-19 lockdowns continue to ease, however, any major gains were capped by the worries that a worldwide rise […]

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6-12-20 RCC Afternoon Market Update

Jun 12 •

Conway is off slightly from its highs from earlier today, but is still up +.0175 on the day overall this afternoon. Crude is not seeing the strength that propane is showing thus far today, with WTI dipping below $36 this afternoon. Equities have rebounded only a portion of yesterday’s losses with the Dow up around […]

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Afternoon RCC Energy Market Update 6-11-20

Jun 11 •

Energies have come back slightly from their lows earlier this session, but WTI is still trading down over $3 on the day, with gas and diesel off 8-9 cents. It has been a rough day on Wall Street as equities have taken a huge hit with the news of a spike in coronavirus cases providing […]

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5-22-20 RCC Energy Market Update

May 22 •

Crude oil and refined product futures finished the day in the red and have not drifted too far from where they were to start Friday morning. Volumes appeared to be thinning out with the Memorial Day holiday weekend approaching. Current estimates for WTI trade are just over 316,600 lots for July. For perspective, yesterday July […]

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5-18-20 RCC Energy Market Update

May 18 •

Confidence in an economic recovery and improved demand have pumped up the value of crude oil and refined products to more than two-month highs. June WTI expires tomorrow and is going out in strong fashion, trading as high as $33.32 this morning closing +$2.39. Refined product futures were also on the rise this morning with […]

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5-15-20 RCC Energy Market Update

May 15 •

Energy finished up today as headlines around production cuts and product demand has been providing support to the market as we move into the weekend. Crude oil finished +$1.87, RBOB ended the day +$0.0557, and diesel trailed the other products +$0.0256.

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5-13-20 RCC Energy Market Update

May 13 •

Markets closed negative today, even after the DOE reports were released this morning showing considerable draws in gasoline and a smaller draw on crude oil, the first time in 15 weeks for crude oil. According to OPIS, the reason for the down day is the rout seen today in the financial markets, U.S. markets were […]

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