Markets

Morning Gasoline Market Report

July RBOB prices trended higher overnight through the early morning hours, and appeared to be the upside leader within the energy complex. Perhaps some of that upside momentum comes from an active trade in the Chicago cash gasoline market, which has seen a recovery in refinery demand. In fact, cash prices traded as much as $0.24 above July futures yesterday before backing off late. The bulls maintain the upper hand in the short term, but the slow grind higher could run into challenges later in the session on a lack of fresh positives. July RBOB has upside resistance above at $3.0312.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities