Energy Market Recap - 6/26/2017

June 26, 2017 3:35PM CDT

August Crude Oil closed up 0.38 at 43.39. This was 0.76 up from the low and 0.26 off the high.

August Heating Oil closed up 0.90 at 138.77. This was 2.39 up from the low and 0.89 off the high.

August RBOB Gasoline finished up 1.01 at 143.25, 0.45 off the high and 3.05 up from the low.

July Natural Gas finished up 0.12 at 3.05, 0.01 off the high and 0.07 up from the low.

 

Given the severe beating in prices since the late May high, a measure of the last three days recovery action is probably short covering and technical balancing. While the energy market might have drafted some minimal demand hope from the risk on vibe present early in the Monday trade, that conclusively upbeat vibe was counterveiled during the Monday session by week US data and divergence between various sectors within the US stock market. The bull camp might have been helped by press stories touting the conclusively bearish view toward crude oil pricing and it is also possible that some traders are becoming fearful of another week of strong implied gasoline demand readings and lower crude oil stocks figures from the API and EIA.

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.