Ethanol Blog
Cheryl Anderson DTN Staff Reporter

Tuesday 09/17/13

Energy Market Erosion

RBOB gasoline futures have moved to 10-month lows on the continuous chart following sharp losses across the complex over the last three weeks. Aggressive pressure each of the past two trading sessions has added fuel to the fire of eroding energy markets as traders seem to be focusing less on longer-term market direction and more on seasonal pullbacks in demand and stronger financial market support.

The recent interest in stock markets has limited buyer's activity in commodities as a whole, but especially in RBOB gasoline and crude oil energy markets. Crude oil futures fell more than $1 per barrel Tuesday, while October RBOB gasoline prices slipped another 5.55 cents per gallon. It is uncertain just how much additional strong pressure will develop during the next two days, but at this point there is likely to be little interest from either commercial or investment buyers to quickly flood back into the market in the near future.

Rick Kment can be reached at rick.kment@telventdtn.com

(ES/)

Posted at 4:03PM CDT 09/17/13 by Cheryl Anderson
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