Energy Market Recap - 10/28/2016

October 28, 2016 10:32AM CDT

December Crude Oil closed down 1.02 at 48.70. This was 0.28 up from the low and 1.11 off the high.

December Heating Oil closed down 2.50 at 156.18. This was 1.45 up from the low and 2.19 off the high.

December RBOB Gasoline finished down 2.53 at 145.24, 3.47 off the high and 0.80 up from the low.

December Natural Gas finished up 0.05 at 3.12, 0.01 off the high and 0.10 up from the low.

The energy complex saw some weakness to end the week perhaps because the production agreement is seemingly showing signs of breaking down. We are a little surprised that crude oil and RBOB saw weakness today in the wake of positive US GDP results and ideas earlier this week seemed to telegraph improvement in the global economy. Others might have liquidated longs positions due to the start of the oil producer talks in Vienna.

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