Gasoline RBOB Futures Market News and Commentary
March WTI crude oil (CLH22) this morning is up +1.25 (+1.44%), and March RBOB gasoline (RBH22) is up +2.58 (+1.02%). March Nymex natural gas (NGH22) is up by +0.421 (+9.83%).
WTI crude oil and RBOB gasoline prices this morning are moderately higher and posted new 7-1/4 year highs. Concern about tight global supplies propelled crude prices higher today. Also, heightened geopolitical risks underpin crude prices on fears that Russian crude exports will be disrupted if it invades Ukraine.
Nat-gas prices this morning are sharply higher, although they remain below Thursday's 13-year nearest-futures high. Nat-gas prices are higher on expectations for a powerful winter storm to move across the East Coast this weekend that would boost heating demand for nat-gas. Also, the National Weather Service said today that temperatures along the eastern U.S. are projected to remain below normal into next week.
The CEO of Chevron said today that hundred-dollar crude oil might be c... Read more