Gasoline RBOB Futures Market News and Commentary
November WTI crude oil (CLX21) this morning is up +0.11 (+0.13%), and November RBOB gasoline (RBX21) is down -0.0196 (-0.79%). November Nymex natural gas (NGX21) is down -0.011 (-0.22%).
Nov WTI crude oil and Nov RBOB gasoline prices this morning are mixed. A decline in the dollar index to a 3-week low today is positive for energy prices, along with a rally in the S&P 500 to a 5-week high, which shows confidence in the economic outlook that is positive for energy demand. Crude prices fell back from their best levels, and gasoline declined on concern that the recent surge in crude prices will cause energy demand to shrink.
Nov nat-gas prices this morning extended Monday's sell-off down to a 3-1/2 week low. The prospects for above-normal U.S. temperatures over the next few weeks are pressuring nat-gas prices. The Commodity Weather Group said today that the U.S. should see predominantly warmer-than-normal weather at least through Nov 2, which should reduce heating de... Read more