Energy Market Recap - 4/24/2017 | RJO Futures

April 24, 2017 3:43PM CDT

June Crude Oil closed down 0.43 at 49.19. This was 0.16 up from the low and 1.03 off the high.

June Heating Oil closed down 1.28 at 154.66. This was 0.36 up from the low and 2.95 off the high.

June RBOB Gasoline finished down 1.92 at 162.61, 3.13 off the high and 0.28 up from the low.

May Natural Gas finished down 0.03 at 3.07, 0.08 off the high and 0.04 up from the low.

The energy complex started out the week with a positive tone, but was unable to sustain upside momentum as crude oil, RBOB and heating oil stayed in negative territory by the close of Monday's trading session. While many commodities received a positive boost from the "risk on" mood that followed Sunday's French election results, early energy market gains were more subdued. Crude oil prices were unable to hold their ground above the key $50.00 level which may have fueled technically-based selling, while a continued rise in the Baker Hughes oil rig count may signal increased US production that will offset output cuts seen in the Oil Producers Agreement. Natural gas prices saw seen bumpy price action early this week and while staying in negative territory, managed to bounce well above a 1-month low and climbed back above their 50-day and 200-day moving averages. Cooler than normal temps in the 6-10 day forecasts over the Midwest may provide a modest boost to heating demand, which helped natural gas to avoid an extension of a downside breakout.

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.