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NYMEX April RBOB gasoline futures fell 6.02 cents to $1.8955 per gallon after an unexpected build in US commercial crude inventories, ending a nine-session rally. EIA data showed implied gasoline demand down 285,000 bpd on the week and running 1.9% below year-ago levels.
Softer gasoline demand and a crude inventory build point to weaker near-term energy prices, which can ease biofuel-linked and freight costs. The move is a routine market wrap with limited direct effect on feed commodities.
fuelsmarketnews.comAbout The AuthorMar 28, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
