Texas Facilities Back Online Weigh on Markets
While crude oil price had pulled back from their highs on Thursday, they remain nearly $25 above the early November lows. The market may have corrected its technically overbought condition, but it remains vulnerable to profit-taking and long liquidation early this week.
RBOB And ULSD found have fallen back after some early strength overnight, and that follows mixed results on Friday. April RBOB posted a strong gain last week for a fifth positive week in a row.
While natural gas saw volatile action, it held above the February 12th close last week. April natural gas finished last week with a gain of 0.115 (up 4.0%), which was a fourth positive week in a row. However, it was unable to shake early pressure overnight and fell to its lowest level in a week.
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.