Gasoline RBOB Aug '15 (RBQ15)
Gasoline RBOB Futures Market News and Commentary
Dec WTI crude oil (CLZ19) closed up by +0.97 (+1.81%), Dec Brent crude oil (CBZ19) closed up by +0.74 (+1.26%), and Dec RBOB gasoline (RBZ19) closed up by +0.0053 (+0.34%). The energy complex rallied Tuesday with Dec WTI crude oil and Dec RBOB gasoline at 1-week highs on speculation OPEC and its allies may further reduce their crude output levels. Reuters on Tuesday reported 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. Also, the S&P 500 rallied to a 1-month high early Tuesday, which bolstered optimism in the economic outlook and energy demand, although stocks gave up their gains late Tuesday and closed lower. 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. Tuesday's U.S. economic data was... Read more
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