Markets

Morning Gasoline Market Report

January RBOB prices broke out above Monday's inside day trading range during the early morning hours. Some traders were encouraged by the early strength and noted a level of cash market support coming from refinery outages in Delaware and Texas. The Commitments of Traders Futures and Options report as of November 22nd showed non-commercial traders were net long 53,923 contracts, a decrease of 3,938. Non-commercial and nonreportable traders combined held a net long position of 56,900 contracts, down 7,883 on the week. Money managers were also sellers on the week, reducing their net long positioning by nearly 6.5% as prices sold-off into a new 6 week low.

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.

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