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Gasoline RBOB May '23 (RBK23)
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Gasoline RBOB Futures Market News and Commentary

Crude Oil Recovers from Early Losses on Dollar Weakness

April WTI crude oil (CLJ23) on Monday closed up +0.90 (+1.35%), and Apr RBOB gasoline (RBJ23) closed up +3.35 (+1.38%).

Crude oil and gasoline prices Monday posted moderate gains.  Crude oil Monday recovered from a 15-1/2 month low and posted moderate gains after a decline in the dollar index (DXY00) to a 15-1/2 month low sparked some short covering in crude futures.  Crude prices Monday initially moved lower on concern that the U.S. and European banking turmoil could push the global economy into a recession that reduces energy demand.

In a bearish factor, Vortexa Monday reported that the amount of crude stored on tankers that have been stationary for at least a week rose +2.6% w/w to 82.71 million bbl in the week ended March 17.

Goldman Sachs Monday cut its 12-month crude price forecast for Brent crude to $94 a barrel from a previous forecast of $100 a barrel, citing "banking stress, recession fears, and an exodus of investor flows."  Goldman now predicts that OPE... Read more

Contract Specifications

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Contract
Gasoline Blendstock New York Harbor [RBOB]
Contract Size
42,000 gallons
Tick Size
$0.0001 (0.01 cent) per gallon ($4.20 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (RTH 8:00a.m. - 1:30p.m.) (Settles 1:30p.m.) CST
Exchange
NYMEX
Point Value
$42,000
Margin/Maintenance
$8,250/7,500
First Notice Date
05/02/23 (42 days)
Expiration Date
04/28/23 (38 days)

Seasonal Chart

Gasoline RBOB May '23
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Mar 7, 2023

View Chart Details
Commercials - Long / Short
149,415 (-3,914)
223,158 (+408)
Non-Commercials - Long / Short
85,922 (+8,853)
21,314 (+6,862)
Producers - Long / Short
101,216 (-4,516)
198,781 (-2,584)
Swap Dealers - Long / Short
36,900 (+402)
13,078 (+2,792)
Managed Money - Long / Short
70,382 (+10,418)
7,798 (+1,940)
Other Reportables - Long / Short
15,540 (-1,565)
13,516 (+4,922)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
2.3626 +4.91%
on 03/16/23
2.7995 -11.46%
on 03/07/23
-0.1358 (-5.19%)
since 02/21/23
3-Month
2.3626 +4.91%
on 03/16/23
2.8343 -12.55%
on 01/23/23
+0.0247 (+1.01%)
since 12/21/22
52-Week
2.2501 +10.16%
on 12/12/22
3.1432 -21.14%
on 06/14/22
-0.1712 (-6.46%)
since 03/21/22

More Gasoline RBOB Quotes

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Most Recent Stories

More News
Crude Oil Recovers from Early Losses on Dollar Weakness

April WTI crude oil (CLJ23 ) on Monday closed up +0.90 (+1.35%), and Apr RBOB gasoline (RBJ23 ) closed up +3.35 (+1.38%). Crude oil and gasoline prices Monday posted moderate gains. Crude oil Monday recovered...

CLK23 : 67.15 (-0.99%)
RBK23 : 2.4787 (-0.72%)
DXY00 : 103.408 (+0.12%)
Nat-Gas Prices Fall on Forecasts for Above-Average Temps

April Nymex natural gas (NGJ23 ) on Monday closed down -0.115 (-4.92%). Apr nat-gas prices Monday dropped to a 3-week low as the outlook for milder temperatures will reduce the heating demand for nat-gas...

NGK23 : 2.354 (+0.99%)
Crude Prices Fall as Banking Turmoil Undercuts Economic Growth and Energy Demand

April WTI crude oil (CLJ23 ) this morning is down -0.46 (-0.69%), and Apr RBOB gasoline (RBJ23 ) is up +0.86 (+0.34%). April Nymex natural gas (NGJ23 ) is down -0.059 (-2.52%). Crude oil and gasoline...

CLK23 : 67.15 (-0.99%)
RBK23 : 2.4787 (-0.72%)
NGK23 : 2.354 (+0.99%)
The Reasons Under $70 per Barrel is a Bargain for Crude Oil

Market prices often focus on critical levels that test the supply and demand fundamentals. While speculation and other factors can push prices to extremes on the up or downside, they tend to return to...

CLJ23 : 66.90 (-1.09%)
UCO : 22.03 (+3.19%)
CBK23 : 73.08 (-0.96%)
USO : 59.79 (+1.93%)
BNO : 24.49 (+1.79%)
No Confidence

Oil prices are struggling as a crisis of confidence in the global banking system is overshadowing what normally would be very bullish fundamentals. The fear is that fear will lock up the economy, reversing...

No Luck for the Irish...or anyone else

On Friday we suggested a Neutral bias and the markets veered Lower. What will we see today?

Crude oil Weekly Forecast

The downtrend may be expected to continue, while market is trading below resistance level 72,92, which will be followed by reaching support level 61.

No Bull | Goin' Green - Part One

This week it’s all about the green… green diesel that is. I am spreading this update out over two weeks as there is far too much material to get through in one update. This week we will dive into...

Nat-Gas Prices Sink on the Outlook for Milder U.S. Temps

April Nymex natural gas (NGJ23 ) on Friday closed down -0.176 (-7.00%). Apr nat-gas Friday sold off to a 3-week low and closed sharply lower. Nat-gas prices fell on a milder U.S. weather outlook that...

NGK23 : 2.354 (+0.99%)
Crude Oil Prices Retreat on Concern Bank Turmoil Will Spark Recession

April WTI crude oil (CLJ23 ) on Friday closed down -1.61 (-2.36%), and Apr RBOB gasoline (RBJ23 ) closed down -0.20 (-0.08%). Crude oil and gasoline prices Friday retreated, with crude falling to a 15-month...

CLK23 : 67.15 (-0.99%)
RBK23 : 2.4787 (-0.72%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Average Signal Strength.

Key Turning Points

3rd Resistance Point 2.6566
2nd Resistance Point 2.5776
1st Resistance Point 2.5372
Last Price 2.4787
1st Support Level 2.4178
2nd Support Level 2.3388
3rd Support Level 2.2984

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52-Week High 3.1432
Fibonacci 61.8% 2.8020
Fibonacci 50% 2.6967
Fibonacci 38.2% 2.5913
Last Price 2.4787
52-Week Low 2.2501

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