Energy Market Recap - 10/2/2017

October 2, 2017 3:48PM CDT

November Crude Oil closed down 1.13 at 50.54. This was 0.47 up from the low and 1.17 off the high.

November Heating Oil closed down 4.35 at 176.65. This was 1.07 up from the low and 4.59 off the high.

November RBOB Gasoline finished down 3.81 at 155.29, 3.86 off the high and 1.08 up from the low.

November Natural Gas finished down 0.08 at 2.92, 0.10 off the high and 0.03 up from the low.


The energy markets started October squarely on the defensive as crude oil and the products posted across the board losses during Monday's trading session. Reports that OPEC production actually rose last month were especially bearish as they diminish the chances that the Oil Producers Agreement will be extended next year. An uptick in the latest Baker Hughes oil rig count also points toward higher upcoming US production as well. Natural gas prices were unable to find their footing as they fell to new 7-week lows during Monday's trading. Normal to below-normal temperatures across large portions of the US in the latest 60-day forecast will limit utility demand for natural gas.

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.