Crude Recap: Nat Gas Continues Streak
Natural gas continues its streak of improvement, gaining 6 percent over the past five days of trading. Contrary to natural gas, crude and gasoline prices pulled back with WTI crude front-month contracts falling 5 percent.
Diary from last five days:
On a year-to-date basis, reformulated blended gasoline futures (RBOB) continued to have a large gain on the overall energy complex even though demand continues to sag. In the most recent week, MasterCard SpendingPulse noted that gasoline consumption fell 0.7 percent versus the prior week--demand declining for the 59th straight week.
Having spent much of his career in the oil patch, Trey Cowan is a seasoned Wall Street analyst providing insights on both onshore & offshore oil field services. Email Trey at firstname.lastname@example.org.
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