Energy Market Recap - 2/13/2017 | RJO Futures

February 13, 2017 3:39PM CST

March Crude Oil closed down 0.97 at 52.89. This was 0.12 up from the low and 1.06 off the high.

March Heating Oil closed down 3.93 at 162.66. This was 0.77 up from the low and 4.58 off the high.

March RBOB Gasoline finished down 4.58 at 154.38, 5.93 off the high and 0.39 up from the low.

March Natural Gas finished down 0.09 at 2.94, 0.05 off the high and 0.00 up from the low.

 

With oil prices falling sharply in the wake of suggestions from OPEC they have achieved 93% compliance with the production cut backs scheme it is clear the market was overbought into last week's highs and perhaps tempering its bullish euphoria. It is possible that a disruption at a pipeline in Rotterdam undermined crude oil demand into that region but it is also possible that strength in the dollar press coverage of rising retail gas prices over the last month prompted the trade to curtail product demand expectations.


< Back to Articles & Videos

RJO Futures | 222 South Riverside Plaza, Suite 1200 | Chicago, Illinois 60606 | United States
800.441.1616 | 312.373.5478

This material has been prepared by a sales or trading employee or agent of RJO Futures and is, or is in the nature of, a solicitation. This material is not a research report prepared by RJO Futures Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.