Gasoline and Diesel Futures Stage a Remarkable Comeback

On April 4, 2014 by TradingDesk

Gasoline and Diesel futures, have staged a remarkable comeback after dropping a dime to start the week. The 10 cent swing in prices pales in comparison to the drama unfolding in ethanol markets however, as those prices have dropped by $1/gallon in the past 3 days, which will take a dime out of E10 prices across the country.

Doubts about the validity of progress in Libya were blamed for a rally in Brent crude yesterday, which contributed to the rally in US products, although given where the bounce began it seems that much of this week’s recovery has been technical in nature. The question now – again – is whether we are entering another period of sideways trading, or just taking a break on our way to lower prices this summer. Charts continue to give favor to lower values going forward.

The March jobs report appears to be a non-event for market activity so far today as the US continues its pattern of painfully slow growth.

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Market Update (3)


Total nonfarm payroll employment rose by 192,000 in March, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in professional and business services, in health care, and in mining and logging.

Table A


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