8-25-20 RCC Energy Market Update

Aug 25 •

After early strong moves across the petroleum complex and a cooling off around midday, petroleum futures still ended up with gains across the board. The better gains were in September RBOB as Hurricane Laura picks up strength and has already caused more than a half-dozen precautionary closures. September RBOB at one point was up well […]

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8-24-20 RCC Energy Market Update

Aug 24 •

RBOB and ULSD futures were trading higher early Monday ahead of Tropical Storm Marco’s arrival in southeast Louisiana later in the day, while crude futures were registering lighter gains. Hurricane warnings in effect on Sunday for Marco have been lifted, but tropical storm and surge warnings remain in effect for Louisiana’s southeast coast east through […]

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8-21-20 RCC Energy Market Update

Aug 21 •

Markets were down today on headlines of slowly recovering demand, OPEC+ production, and tropical storm predictions in the Gulf of Mexico. Products did make a slow recovery off session lows today, as the strength of the US Dollar and speculation of Libyan oil exports in October effected markets. Rig counts increasing in the Permian basin […]

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8-18-20 RCC Energy Market Update

Aug 18 •

Crude oil (WTI) made a run into positive territory today and hitting $42.99 before slipping back negative at the close. Refined products also made a run into positive territory, which in earlier hours of the trading period helped pull crude oil up. Products, unlike crude, were able to maintain their positive trajectory and finished the […]

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8-12-20 RCC Energy Market Update

Aug 12 •

The energy complex closed higher today as the market was pushed up by a bullish inventory report. The EIA showed strong demand for gasoline in the most recent week, helping keep petroleum futures climbing through the session on Wednesday. WTI finished the trading session up $1.06/bbl to $42.67/bbl, the highest point for a front-month contract […]

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8-11-20 RCC Energy Market Update

Aug 11 •

The morning rally that had WTI futures flirting with $43/bbl ran into a wall of selling that pushed prices lower in the afternoon. No major headlines were sited for turning the markets around, but some traders continue to believe WTI will continue to struggle sustaining rallies. Gasoline could be to blame for the turn in […]

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8-3-20 RCC Energy Market Update

Aug 3 •

Oil prices rose during today’s session on higher equities, sensitive to the possibility of a second stimulus, along with encouraging economic data from Asia with the Chinese manufacturing data for July showing a better number than previously forecasted.   Marathon had a couple big stories in the news with the sale of their Speedway stores for […]

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7-30-20 RCC Energy Market Update

Jul 30 •

The energy complex struggled from the start in today’s session and fell into a free fall after weak US economic data was released. It resulted in the largest one-day drop in crude oil futures in more than a month and closed below $40 per barrel. Petroleum products were also sharply down on the day but […]

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7-28-20 RCC Energy Market Update

Jul 28 •

It was a pretty lackluster day of trading today as crude oil gave back gains made from yesterday and petroleum products continued the move lower. There is an expectation of difficult conversations over the next several days between Republicans and Democrats on the next economic stimulus package as the United States continues to recover from […]

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7-27-20 RCC Energy Market Update

Jul 27 •

The past few weeks have shown an overall balanced energy complex, today was no different. The energy complex ended the day mixed with crude oil managing to bounce out of red figures and into positive territory while petroleum products ended the day moving slightly lower. It was an active day for all products starting out […]

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