Written Commentary
CRUDE OIL
Despite a 2-day corrective setback of $2.50, the crude oil market is showing signs of making a fresh contract high in the action early today. While today’s EIA crude stocks change and implied gasoline demand readings will be major influences on crude oil prices, overall US demand views will be tested with the beginning of the monthly jobs report cycle.
While gasoline prices have not shown the type of impressive recovery as crude oil prices, it would appear that overnight headlines continue to tout expanding road fuel sales and miles driven.
An oil pump jack
NATURAL GAS
As in the petroleum markets, demand improvement is showing up in the natural gas market. However, LNG demand improvement is largely the result of much above normal temperatures in the US and Europe and that increase in demand has not been proven to be the result of sustainable cyclical improvement.
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2021 ADM Investor Services International Limited.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.
