Energy Market Recap - 7/10/2017

July 10, 2017 3:39PM CDT

August Crude Oil closed up 0.20 at 44.43. This was 0.78 up from the low and 0.41

August Heating Oil closed up 0.51 at 145.33. This was 1.88 up from the low and 1.33 off the high.

August RBOB Gasoline finished up 0.19 at 150.03, 1.40 off the high and 2.44 up from the low.

August Natural Gas finished up 0.06 at 2.92, 0.02 off the high and 0.05 up from the low.

Despite seeing a lower low for the move early today, the September crude oil contract at times was trading $1.20 above the initial low. Interest in crude oil was lifted following reports that Libya and Nigeria might attend this month's producer meetings. With an increase in fund interest toward London Brent crude and Asian contracting for September condensate supply firming, it wasn't surprising to see crude oil reject the downside breakout. Another issue that is capable of underpinning crude oil prices is a report from Reuters pointing to increased ship to ship activity in the North Sea.

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.