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Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
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May WTI crude oil this morning is down -15 cents (-0.27%) and May gasoline is down -0.0180 (-0.93%). May crude and gasoline on Monday closed higher with May gasoline at a 1-1/2 month high: CLK5 +0.64 (+1.15%), RBK5 +0.0051 (+0.26%). Bullish factors included (1) the action by the PBOC to cut banks' reserve requirements for the second time this year, which may boost China's economy and its demand for energy, and (2) the estimation from energy research firm Genscape that Wednesday's EIA data will show that crude supplies declined at Cushing, OK, the delivery point of WTI futures.