gasoline futures quotes

gasoline futures quotes

October 11th, 2014

Gasoline Futures – U.S. drivers are closer to seeing $3 gasoline over the holiday season than they’ve been in four years as New York-traded futures are selling for $1 a gallon below retail prices, signaling further declines at the pump.

Gasoline for November delivery settled at $2.2575 a gallon on the New York Mercantile Exchange yesterday, 98.25 cents below the pump price, according to Heathrow, Florida-based motoring club AAA. That’s the biggest gap since October 2012, which was the last time the discount topped $1. The futures, which help dictate retail costs, have dropped about 40 cents in the past two weeks while prices at the pump are down 10 cents.

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April 12th, 2013

Gasoline sank to the lowest level since January on concern that U.S. and European economies are weakening, reducing fuel demand at the same time refineries increase output.

Gasoline futures slid to the lowest intraday level since Jan. 18. March U.S. retail sales fell the most in nine months. Cyprus said it will seek more aid from the European Union. Gasoline supplies and refinery inputs rose last week, government data show. The motor fuel is the worst performer this month in the Standard & Poor’s GSCI Index of 24 materials.

“The problems in Europe seem to have bubbled up again and retail sales are not looking too good on top of the weak fundamentals,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut.

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March 26th, 2013

Gasoline advanced as increases in durable goods orders and home prices indicated the U.S. economy is strengthening and fuel demand may improve.

Gasoline futures rose 0.5 percent as bookings for goods meant to last at least three years rose 5.7 percent in February, boosted by automobiles and a rebound in commercial aircraft, a Commerce Department report showed. Residential real estate prices increased in January by the most since June 2006, indicating the U.S. housing market strengthened at the start of the year.

“All of a sudden, the economy is looking a little better,” said Phil Flynn, senior market analyst at Price Futures Group in Chicago. “People feel richer when the value of their house goes up and increased durable goods orders could mean better demand.”

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March 19th, 2013

Gasoline fell as Brent crude oil, the pricing basis for gasoline imports, weakened versus West Texas Intermediate. Gasoline’s crack spread over WTI narrowed to the lowest level in almost a month.

Gasoline futures lost as much as 1.6 percent as Brent’s premium to WTI slipped to a two-month low. Brent weakened amid a recovery in North Sea oil production, the imminent return of South Sudan oil exports and concern that an upcoming vote in Cyprus on an unprecedented bank levy threatens the euro area economy.

“The Brent is clearly being impacted by the events in Cypress and concerns over the economy in Europe and the return of North sea oil production and exports from the Sudan,” ’’ said Andy Lipow, president of Lipow Oil Associates LLC in Houston.

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March 12th, 2013

Gasoline futures rose as a weaker dollar sparked a commodity rally and on speculation U.S. inventories declined last week. Crack spreads and backwardation narrowed.

Gasoline gained as West Texas Intermediate crude on the New York Mercantile Exchange jumped 1 percent. The dollar slipped 0.2 percent against the euro, boosting the investment appeal of commodities. The Energy Information Administration will probably report tomorrow that U.S. gasoline stockpiles fell 1.2 million barrels last week, according to the median of nine analyst estimates compiled by Bloomberg.

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January 28th, 2013

Crude-oil futures prices posted modest gains Monday, settling at a 19-week high, while concerns over tight mid-Atlantic gasoline supplies pushed futures up for an eighth straight day.

Oil futures climbed early as the Commerce Department said December U.S. durable goods orders rose 4.6% from November, much stronger than the consensus call for a 2% rise. The data is the latest of recent strong indicators of a recovery in the U.S., the world’s biggest oil consumer.

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January 23rd, 2013

Gasoline jumped to the highest level since October as refineries shut units for repair, which may tighten supplies of the motor fuel.

Gasoline futures rose as refiners conducted maintenance at plants in Pennsylvania that supply fuel to New York Harbor, the delivery point of futures contracts. Gasoline inventories along the U.S. East Coast as of Jan. 11 were at the lowest seasonal level since 2006, Energy Information Administration data show.

“There have been refinery glitches and shutdowns that have helped support gasoline,” said Phil Flynn, senior market analyst at Price Futures Group in Chicago.

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October 31st, 2012

Gasoline futures jumped more than 5 percent as fuel suppliers bought November futures contracts to cover near-term delivery agreements after the biggest Atlantic storm in history closed terminals and pipelines.

November gas futures surged as a Colonial Pipeline Co. product line that feeds gasoline, diesel and other fuels from Gulf Coast refineries into the New York Harbor area remained shut. Terminals around Linden, New Jersey, and Phillips 66’s Bayway refinery suffered power failures and flooding in the wake of superstorm Sandy. Power companies warned some blackouts may persist through next week.

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October 22nd, 2012

Gasoline fluctuated on speculation declining pump prices may stoke demand even as refinery unit restarts indicate that U.S. stockpiles will rise.

Gasoline futures swung between gains and losses as retail prices fell to the lowest in more than two months. Valero Energy Corp. (VLO) and Citgo Petroleum Corp. are starting units following maintenance at the McKee and Corpus Christi, Texas, refineries. Futures sank on Oct. 19 to the lowest since July 2.

“After the big selloff on Friday, we did some technical damage,” said Phil Flynn, senior market analyst at Price Futures Group in Chicago. “But the big drop in retail gasoline prices probably signals plenty of supply moving forward.”

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October 5th, 2012

Exxon Mobil Corp. (XOM) and Valero Energy Corp. (VLO) are rationing gasoline deliveries to customers in California as refinery halts cut into the state’s supplies, driving pump prices toward record highs.

Valero stopped spot sales in southern California and is allocating the rest of its deliveries to customers. Exxon is also rationing to buyers at West Coast terminals. Retail prices in the state jumped to an average $4.486 a gallon, according to data published today by AAA, the nation’s biggest motoring organization.

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