Energy Market Recap - 4/13/2017

April 13, 2017 10:32AM CDT

May Crude Oil closed up 0.03 at 53.14. This was 0.32 up from the low and 0.25 off the high.

May Heating Oil closed down 0.26 at 164.94. This was 0.53 up from the low and 0.89 off the high.

May RBOB Gasoline finished down 0.64 at 173.53, 0.96 off the high and 1.35 up from the low.

May Natural Gas finished up 0.05 at 3.23, 0.01 off the high and 0.08 up from the low.

While the petroleum complex showed what appeared to be exhausted price action to end the trading week, the trade probably saw a major supportive development going forward from the news that Chinese crude oil imports shattered their old record high. The further development that the largest supplier of that float to China was from the US could mean that the brunt of the US oversupply condition might be addressed with solid demand. The bear camp could argue that prices lost momentum in the last three trading sessions of the week could also suggest that geopolitical tensions offered little fresh headline fodder. The weekly natural gas storage report showed an injection of 10 bcf. Total storage stands at 2061 bcf or 14.6% above the 5 year average. Over the last four weeks natural gas storage has declined 181 bcf.

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

The risk of trading futures and options can be substantial. Each investor must consider whether this is a suitable investment. Past performance is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that RJO Futures believes to be reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgement at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.

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.

Distribution in some jurisdictions may be prohibited or restricted by law. Persons in possession of this communication indirectly should inform themselves about and observe any such prohibition or restrictions. To the extent that you have received this communication indirectly and solicitations are prohibited in your jurisdiction with registration, the market commentary in this communication should not be considered a solicitation.