Gasoline futures stable while WTI swings $UGA $USOPrompt-month RBOB futures have been very quiet relative to the antics in oil. 75 cents appears to be very important.
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Gasoline Futures See 0.7250 Resistance Level as Prices Retrace- Gasoline has paired some gains heading into the new week with it falling down to the 0.6570 level as we near the London open.
- Much of the pressure in lower prices has been due to the ongoing demand issues we are seeing within the United States, however, we have seen prices in recent week pick up from lows around mid-0.40 level.
- As of this week, however, we have seen prices retrace lower after touching a key level of resistance around the 0.7250 level.
API Shows Gasoline Inventory Increase of 2.226 Million BarrelsAPI Release this week has shown a gain up for the week with Gasoline posting a build of 2.226 million barrels
Gasoline Futures Approaching 0.725 Price Handle- Gasoline is now approaching the important 0.725 price handle once again
- This level has been seen in the past as a level of strong price resistance
Gasoline Bounces of 0.625 handle Seeing it Push Above 0.70 Level- Gasoline Bounces of 0.6250 handle
- OPEC+ Meetings scheduled for Thursday which could see volatility role into Gasoline markets
- Gasoline dropped to the beginning of the year due to falling demand within the US region
Gasoline Falls in Asia + Stock Futures Fall in Europe & USHeadlines:
• Crude Finishes Flat Whilst Gasoline Futures Drop -6% Within Asia
• CNOOC Announces the Postponement of its Canadian East Coast Project Due to Covid-19
• US Futures Fall as Virus Concerns Reappear Whilst Asia Starts the Quarter Off Lower
Gasoline Surges Above 0.60 Level Posting +12% Gain in AsiaHeadlines
• Gasoline Surges Above 0.60 Level Posting +12% Gain in Asia
• Petrobras to Cut Production & Reduce Capital Expenditures in a Bid to Off-Set Virus Impacts
• US Futures Retreat in Asia Breaking Weeks Uptrend
Gasoline Continues Down -31% on Monday Close as Demand FallsHeadlines
• Further Oil & Gas Companies Announce Expenditure Cuts with TOTAL Set to Cut into the Year
• Gasoline Continues Its Plummet Down -31% on Monday Close
• UK Closes Non-Essential Business as Countries Go into Quarantine to Slow Spreads
COT Report Show Cut in Long Gasoline Positions for Managed MoneyHeadlines
• COT Report Shows Cut in Long Gasoline Positions for Managed Money
• RBOB Gasoline Prices Continue Plunge Down Below 0.55 Handle
• US Futures Down as Congress Fails to Agree to Further Aid
Gasoline Sheds Further Seeing It Drop -9.64% Monday OpenHeadlines
• Gasoline Sheds Further Seeing It Drop -9.64% Monday Open
• China Releases Industrial Production Data Showing Drop of a Staggering -13.5%
• US Futures Fall Ahead of Open as Fed Cuts Interest Rates Close to Zero
Gasoline Plummets Along with Crude as Markets See Huge SellingHeadlines:
• Gasoline Plummets Along with Crude as Markets See Huge Selling
• Futures in Asia Prepare for the Worst as They Plummet Heading into the Session
• EU and US Markets Plunge as Investors Flee
GASOLINE FUTURES (RB1!) DailyDates in the future with the highest probability for price direction reversals
OPEC Monthly Report to be Released to Markets During the SessionHeadlines:
• OPEC Monthly Report to be Releases to Markets During the Session
• US Coronavirus Cases Tops 1,000 as More City Officials Record Cases
• Futures Market Lower as Traders Head into US Session
EIA Crude Stock Continues + Gasoline & Distillate Stock DropsHeadlines:
• EIA Crude Inventory See Stockpiles Continues Whilst Gasoline & Distillate Stock Drops
• Surging Indexes Spurred on by Stimulus Measures with S&P500 +4.22%
• Coronavirus Cases Slow Down in China Whilst See Rises in Italy & Iran
Gasoline Down + Oil Extends Losses in Asia With Crude DownHeadlines:
• Crude Extends its Losses in Asia With NYMEX Crude Down -3.16% + RBOB Gasoline Down -3.29%
• UN Secretary General Calls for Immediate Ceasefire After 33 Turkish Soldiers Killed in Idlib
• Asian Equities Feel Full Force of Sell Pressure with Nikkei225 Down -4.60%
RBOB Gasoline Falls as Global Fear Resonates Throughout MarketHeadlines:
• Light Crude Futures Fall Below $50pb as Global Fear Resonates Throughout Markets
• CDC Warns That They Could Expect Further Cases and to be Ready
• US Equities Continue Low Streak with Markets Down Another -3%
API Data Shows Gasoline -2.668m For the WeekHeadlines
• API Data Shows Crude Up +4.164m Whilst Gasoline Down -2.668m
• Maduro Looks for Alternate Ways to Sustain Economy as Oil Production Slides
• Canadian CPI Numbers Up Beating Analyst Expectation
GASOLINE FUTURES (RB1!) DailyDates in the future with the highest probability for price direction reversals
RBOB Gasoline Futures Sitting at Important 1.5900-1.6000 ZoneHeadlines
• RBOB Gasoline Futures Sitting at Important 1.5900-1.6000 Zone
• Natural Gas Surges on Open Gapping Up +3%
• Japan Releases Disappointing GDP (-1.6%) for the Quarter Seeing Japanese Indexes Drop
• US Set to Observe Presidents Day Holiday During Monday
Gasoline will soon follow the fall in crude oil prices.The EIA has revised down it's forecast for fuels demand, due to the impact of coronavirus on China GDP and dropping fuel demand in that country.
