Energy Market Recap – 4/10/2017 | RJO FuturesPosted 04/10/2017 3:38PM CT |
May Crude Oil closed up 0.85 at 53.09. This was 0.80 up from the low and 0.03 off the high.
May Heating Oil closed up 1.96 at 164.80. This was 1.96 up from the low and 0.06 off the high.
May RBOB Gasoline finished up 1.36 at 175.98, 0.05 off the high and 1.58 up from the low.
May Natural Gas finished down 0.02 at 3.24, 0.05 off the high and 0.01 up from the low.
The bull camp retains control of the crude oil market with a modest early higher high for the move. Weakness in the dollar, residual Middle East geopolitical concerns and a fresh supply glitch in Libya provides a bullish underpin for prices to start the week. Energy prices appear to be drafting ongoing support from talk of ongoing fund long interest toward the energy complex and given the events last week, it would appear that supply-side threats continue to be significant enough to offset anemic growth in energy demand.