Gasoline RBOB Futures Market News and Commentary
Dec WTI crude oil (CLZ19) on Tuesday closed down by -0.06 (-0.11%), Jan Brent crude oil (CBF20) closed down by -0.12 (-0.20%), and Dec RBOB gasoline (RBZ19) closed up by +0.045 (+0.28%).
The energy complex on Tuesday was undercut by a rally in the dollar index to a 4-week high but found support from positive trade news that pushed U.S. stock indexes to new record highs, which was positive for the economic outlook and energy demand.
U.S. stock indexes surged to new all-time highs early Tuesday on positive trade news after a Bloomberg report 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 Tuesday, which was also supportive for energy demand prospects, after Tuesday's German Nov ZEW expectations of economic growth index rose shar... Read more