News

4/29/20 RCC Energy Market Update

Apr 29 •

Oil prices surged today as the EIA reported smaller stock builds on crude oil and distillates than were expected.  Markets were poised higher at the open after API reported yesterday the first gasoline draw in 5 weeks (-1.11 m/b), but when the draw was more than expected (-3.7 m/b) that added momentum to the upswing […]

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4-23-20 RCC Energy Market Update

Apr 23 •

What started out as solid gains in RBOB and ULSD futures to start the day evaporated as the day went on as WTI crude still finished the day with solid gains. Part of those early product gains losing steam as the day went on are continued worries over demand destruction related to coronavirus, overwhelmed initial […]

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4-22-20 RCC Energy Market Update

Apr 22 •

Good Afternoon,   Throughout the trading session on Wednesday we saw U.S. crude oil prices advance almost 20% while RBOB futures shot up by more than 25% during a session that saw gains throughout the complex. June WTI contract gained +$2.21/bbl . Crude futures saw about $6 between lows and highs throughout the day; a […]

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4-13-20 RCC Energy Market Update

Apr 13 •

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 […]

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4-2-20 RCC Energy Market Update

Apr 2 •

Markets moved significantly higher today after news broke from President Donald Trump’s Twitter that Saudi Arabia and Russia have agreed to curbing production by 10 million barrels per day and could be as much as 15 million bpd. As the world began to digest the news the Saudi Press Agency replied later with “The Kingdom […]

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4/1/20 RCC Energy Update

Apr 1 •

Energy markets finished lower across the board with refined products experiencing sharp losses on the first trading day in April. The inventory report by the Department of Energy show a massive build of 13.8 million barrels of crude oil and a large build in gasoline of 7.5 million barrels while distillate posted a draw of […]

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3/30/20 RCC Energy Market Update

Mar 30 •

The energy complex started this morning with across-the-board losses as fears over demand destruction continue as President Donald Trump announced an extension of the federal social distancing guideline until April 30th. Crude oil spent a portion of the day trading below the key support level of $20/barrel before late buying pushed the contract higher losing […]

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3/26/20 Energy Market Update

Mar 26 •

The energy complex finished the day with losses across the board as news of the US Stimulus package was unable to fight off worries of demand destruction and over production. Gasoline on the front month was down $.0030. Crude oil continued to lose strength as fears of global crude oil oversupply continues to push markets […]

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RCC Energy Market Update 3-25-2020

Mar 25 •

The energy complex was once again higher today as the market is riding positivity around an agreement for a $2 trillion federal stimulus package. RBOB was leading the push higher today with the front month up $.1031 on the day closing at $.5468. Diesel was clinging to gains for most of the day before closing […]

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RCC Market Update 3-25-2020

Mar 25 •

The energy complex was once again higher today as the market is riding positivity around an agreement for a $2 trillion federal stimulus package. RBOB was leading the push higher today with the front month up $.1031 on the day closing at $.5468. Diesel was clinging to gains for most of the day before closing […]

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