Morning Gasoline Market Report 9/17

October RBOB prices took on a slightly lower track during the initial morning hours, perhaps under modest outside pressure following Friday's upside reversal. While the latest round of Fed quantitative easing could provide a boost to US gasoline demand, it remains about 2.0% below year ago levels. At the same time, supply flows are expected to pick up in the near term, from a boost in Gulf coast refinery capacity as well as shipments coming from Europe. The Commitments of Traders Futures and Options report as of September 11th showed non-commercial traders were net long 69,956 contracts, an increase of 1,695. Non-commercial and nonreportable traders combined held a net long position of 84,470 contracts, for an increase of 1,309 in the net long position held by these traders.

View All Market Commentary

*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.