In the wake of the sharp slide in prices this week, some traders feel that the overnight recovery in the RBOB market may not be that surprising especially since prices at this week's lows were down by close to 25 cents a gallon from their mid September highs. In addition to improving "big picture" macro economic vibes this morning, gasoline might also be finding some support off news of improved Australian energy product demand and from news of crude oil supply threats from earlier in the week. With the sharp jump in the US refinery operating rate and the large jump in US crude oil stocks in the latest EIA report, however, other traders feel that RBOB futures may have a difficult time extending this morning's recovery.
*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.Copyright CME Group All rights reserved.
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