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.
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