Gasoline RBOB Futures Market News and Commentary
Dec WTI crude oil (CLZ19) this morning is up by +0.22 (+0.39%), Jan Brent crude oil (CBF20) is up by +0.14 (+0.23%), and Dec RBOB gasoline (RBZ19) is up by +0.103 (+0.64%).
The energy complex is moving higher today on positive trade news that is bolstering optimism in the economic outlook, which is positive for energy demand.
U.S. stock indexes surged to new all-time highs today on positive trade news, which shows confidence in the economic outlook that is bullish for energy demand, after a Bloomberg report today said the U.S. may delay a decision on whether to impose tariffs on European automakers after Volkswagen and Daimler said they will shift parts of their global production to suppliers in the U.S.
Improved European economic optimism helped to push the Euro Stoxx 50 up to a 4-1/4 year high today, which is also supportive for energy demand prospects, after today's German Nov ZEW expectations of economic growth index rose sharply by +20.7 to a 6-month high o... Read more