Energy Market Recap - 5/18/2017

July 18, 2017 3:37PM CDT

September Crude Oil closed up 0.40 at 46.63. This was 0.61 up from the low and 0.51 off the high.

August Heating Oil closed up 1.00 at 150.95. This was 1.72 up from the low and 1.64 off the high.

August RBOB Gasoline finished up 2.21 at 157.88, 1.38 off the high and 2.89 up from the low.

August Natural Gas finished up 0.06 at 3.08, 0.02 off the high and 0.06 up from the low.

 

The crude oil market forged an outside day range today, but spent most of the trade in positive territory. However the gasoline market also forged a wide range but managed a sharp upward extension to the highest price level since June 5th in a manner that suggests demand is siphoning off supply. Perhaps the trade was lifted as a result of expectations of another week of declining inventories in both crude oil and gasoline stocks. It should be noted that the US refinery operating rate has been firm for four months, and yet gasoline supplies have not built as one might have expected. Lastly, breakaway declines in the US dollar should make US energy supply more attractive to the world.

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.