More from Infinity
Start Trading Today!
1-888-456-8090
itc@infinitytrading.com
1-888-456-8090
itc@infinitytrading.com
© 2012 Infinity Trading Corp
February 28th, 2013
Gasoline futures rose, narrowing the largest monthly decline since October. Crack spreads widened for the first time in four days.
The March contract’s discount to April futures narrowed 0.47 cent to 24.51 cents a gallon as the U.S. prepares to switch from winter- to summer-grade fuel. The April crack spread, or premium over West Texas Intermediate crude on Nymex, increased 26 cents to $36.96 a barrel. The spread versus Brent crude on the ICE Futures Europe exchange in London was up 6 cents to $18.66. WTI and Brent were poised for monthly losses.
Continue reading »
January 2nd, 2013
Gasoline rose as Congress approved a budget deal that averts spending cuts and higher taxes for most Americans that threatened the U.S. economic recovery.
Unleaded gasoline futures climbed as the House passed a bill undoing income tax increases that took effect yesterday for more than 99 percent of households. The bill, already passed by the Senate, avoids more than $600 billion a year in scheduled spending reductions and tax gains known as the fiscal cliff.
Continue reading »
August 27th, 2012
Gasoline Futures – U.S. stocks fell while Treasuries rose as investors awaited a speech from Federal Reserve Chairman Ben S. Bernanke to gauge the outlook for monetary policy. Apple Inc. (AAPL) surged after winning a patent case.
The S&P 500 slipped less than 0.1 percent to close at 1,410.44 at 4 p.m. in New York. Apple rallied to a record. Ten- year Treasury yields lost four basis points to 1.65 percent. Spot gasoline on the U.S. Gulf Coast rose to the highest price in almost four years after refineries shut as Tropical Storm Isaac approached Louisiana. The Stoxx Europe 600 Index rose and Spain’s bonds halted a three-day drop.
Continue reading »
Aug 22, 2012
Gasoline futures rose after the Energy Department reported stockpiles declined for a fourth consecutive week.
Gasoline supplies fell 962,000 barrels to 202.7 million in the seven days ended Aug. 17, according to department data. The median estimate of 12 analysts surveyed by Bloomberg called for a 1.35 million-barrel decrease.
September-delivery gasoline rose 0.69 cent to $3.0721 a gallon at 10:35 a.m. on the New York Mercantile Exchange. Prices were $3.0675 before the report’s release at 10:30 a.m. in Washington.
Continue reading »
Gasoline and oil gain
August 3rd, 2012
Gasoline futures and heating oil gained as U.S. payrolls rose more than estimated in July and a sagging dollar boosted the investment appeal of commodities.
Gasoline futures rose after payrolls climbed 163,000, more than the 100,000 median estimate of 89 analysts in a survey by Bloomberg. The dollar fell against the euro after members of German Chancellor Angela Merkel’s coalition signaled they won’t oppose European Central Bank President Mario Draghi’s plan to buy government bonds to ease the region’s debt crisis.
Continue reading »
July 3rd, 2012
Gasoline Futures – U.S. gasoline prices at the pump, headed to $4 a gallon in April, are dropping toward $3 as the July Fourth holiday approaches, giving consumers relief and a boost to President Barack Obama’s re-election campaign.
Retail prices have fallen 15 percent to $3.329 from a peak of $3.936 on April 4, according to Heathrow, Florida-based AAA, the largest U.S. motoring group. They’re also 6.6 percent lower than a year ago, underscoring how slowing economies are sapping demand even as an embargo on Iranian oil starts.
Republican criticism of Obama’s energy policies has faded as oil fell as much as 29 percent from this year’s high in February and stockpiles ballooned to the most in 22 years. Americans bought less gasoline in the four weeks ended June 26 than a year earlier even as prices dropped, MasterCard Inc. (MA) data show. Last month, the Federal Reserve cut its estimate for U.S. growth, Spain became the fourth euro-region country to seek an international bailout and China’s manufacturing shrank.
Continue reading »
June 25th, 2012
Gasoline futures gained, outperforming heating oil and crude, on speculation that refinery closures in North America and Europe may make summer-blend gasoline inventories tight along the U.S. East Coast.
Unleaded gasoline futures rose after the U.K.’s Coryton refinery stopped operating, at least the sixth plant European plant to close since the start of 2011. Hovensa LLC’s St. Croix refinery in the U.S. Virgin Islands is shut and Monroe Energy LLC isn’t expected to open the idled Trainer, Pennsylvania, refinery in time for the summer driving season.
Continue reading »
April 30th, 2012
Unleaded gasoline capped the first monthly drop since November as reports showing weakness in Europe’s economy added to concern that global demand will slow.
Gasoline futures fell with crude, which declined for the first time in seven days, after Spain’s gross domestic product dropped in the first quarter and Italy’s inflation remained at a six-month high. The euro weakened against the dollar, reducing the appeal of commodities as an investment alternative.
“Gasoline is being dragged down by crude oil prices,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston. “There’s quite a bit of concern about Spain and Italy. The anticipation is that the economies there will slow and reduce oil demand.”
Continue reading »
April 17th, 2012
Gasoline fell for a third day as Brent oil weakened versus the U.S. benchmark crude and on speculation that gasoline has peaked before the April-to- September U.S. driving season.
Gasoline futures declined as the London benchmark’s premium to West Texas Intermediate oil sank to a two-month low on reduced concern that tension over Iran’s nuclear program will disrupt supplies. Gasoline has lost 5.9 percent since reaching a 2012 high of $3.4166 on March 26.
“You’re seeing unwinding of the Brent-WTI spread, unwinding of crack spreads,” said Andrew Lebow, a senior vice president at Jefferies Bache LLC in New York. “Because gasoline was so long, it exacerbates this move and some traders think gasoline has peaked.”
Continue reading »
April 5th, 2012
Gasoline futures headed for its first weekly drop in two months as stockpiles of the motor fuel in Northwest Europe reached a two-month high, increasing the supply available for export.
Gasoline futures sank 1.1 percent as gasoline stockpiles in independent storage in Amsterdam-Rotterdam-Antwerp, Europe’s oil-trading hub, rose to the highest level since Feb. 2, according to PJK International BV. Inventories along the U.S. East Coast rose 165,000 barrels last week as imports jumped 53 percent, the Energy Department reported yesterday. Demand over the past four weeks was 3.8 percent below a year earlier.
Continue reading »