Gasoline RBOB Dec '19 (RBZ19)
Gasoline RBOB Futures Market News and Commentary
Dec WTI crude oil (CLZ19) this morning is up by +1.10 (+2.11%), Dec Brent crude oil (CBZ19) is up by +1.11 (+1.88%), and Dec RBOB gasoline (RBZ19) is up by +0.0260 (1.62%). The energy complex is rallying today with Dec WTI crude oil and Dec RBOB gasoline at 1-week highs on economic optimism and on speculation OPEC and its allies may further reduce their crude output levels. The S&P 500 rallied to a 1-month high today, which bolsters optimism in the economic outlook and energy demand. Reduced U.S./China trade tensions are positive for economic growth and energy demand after President Trump on Monday night said that trade negotiations are advancing and China "has started the buying" of U.S. agricultural products. Crude oil prices extended their gains on this morning's report from Reuters that OPEC and its allies (OPEC+) will consider steeper cuts to crude production when they meet in December due to concern about weak global demand growth in 2020. Today's U.S. economic data was mixed for... Read more
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