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Unleaded Gas Futures

Crude Oil and Gasoline Futures Rose

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May 11th, 2017

June gasoline futures contracts rose 4% to $1.54 per gallon on May 10, 2017. Prices rose due to the fall in US gasoline inventories. We’ll look at gasoline inventories in the next part of this series.

Gasoline and crude oil (IXC) (USO) (UCO) futures moved in the same direction on May 10, 2017. For more on crude oil prices, read Part 1 of this series.

On February 26, 2016, US gasoline active futures contracts hit a low of ~$1 per gallon—the lowest level in 12 years. Gasoline prices fell due to falling crude oil (IYE) (USL) prices and strong gasoline production between 2014 and 2016, as you can see in the above chart. As of May 10, 2017, gasoline active futures have risen 54% from their lows in February 2016 due to the increase in gasoline demand and rise in crude oil prices in 2016.

Higher gasoline and crude oil (XLE) (XOP) prices have a positive impact on US refiners and oil producers such as Tesoro (TSO), Marathon Petroleum (MPC), Valero Energy (VLO), Swift Energy (SFY), and Goodrich Petroleum (GDP).

On April 12, 2017, prices hit $1.77 per gallon—the highest level since August 2015. As of May 10, 2017, gasoline active futures are 13% below their highs due to the fall in gasoline demand.

 - Market Realist.







































See Also: Crude Oil, Natural Gas, Heating Oil, Unleaded Gas, Ethanol, Gasoline Blendstock

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