Commodities

Gasoline Jumps And Crude Makes Further Gains As EIA Report Shows Strong Demand

Gold fell 1% after a good bounce in the last two weeks, closing below US$ 1,800 an ounce; weaker technicals point to more consolidation in the short term

Published ET

RBOB Gasoline Front Month Futures Prices | Sources: ϕpost, Refinitiv data

RBOB Gasoline Front Month Futures Prices | Sources: ϕpost, Refinitiv data

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WEEKLY EIA REPORT

  • Stock Levels, EIA, Total Crude Oil excluding SPR, Absolute change, Volume for W 20 Aug (EIA, United States) at -2.98 Mln, below consensus estimate of -2.68 Mln
  • Stock Levels, EIA, Total Distillate, Absolute change, Volume for W 20 Aug (EIA, United States) at 0.65 Mln, above consensus estimate of -0.27 Mln
  • Stock Levels, EIA, Gasoline, Absolute change, Volume for W 20 Aug (EIA, United States) at -2.24 Mln, below consensus estimate of -1.56 Mln
  • Production, EIA, Refinery Capacity Utilization, Absolute change, Volume for W 20 Aug (EIA, United States) at 0.20 % (vs 0.40 % prior)

NOTABLE GAINERS TODAY

  • NYMEX RBOB Gasoline up 5.5% (YTD: 63.4%)
  • Coffee Robusta Vietnam Grade 1 Wet Pol Spot up 3.4% (YTD: 29.2%)
  • NYMEX NY Harbor ULSD up 2.5% (YTD: 43.5%)
  • CME Random Length Lumber up 2.3% (YTD: -43.8%)
  • CME Lean Hogs up 2.0% (YTD: 26.3%)
  • DCE Iron Ore Continuation Month 1 up 1.8% (YTD: -13.3%)
  • ICE Europe Brent Crude up 1.7% (YTD: 39.5%)
  • ICE-US Cocoa up 1.6% (YTD: 1.1%)
  • SHFE Stannum up 1.6% (YTD: 59.1%)
  • DCE RBD Palm Oil up 1.6% (YTD: 21.5%)
  • Crude Oil WTI Cushing US FOB up 1.5% (YTD: 41.8%)
  • Coffee Arabica Colombia Excelso EP Spot up 1.4% (YTD: 39.4%)
  • Bursa Malaysia Crude Palm Oil up 1.3% (YTD: 17.9%)
  • CBoT Soybean Oil up 1.3% (YTD: 42.8%)
  • CBoT Corn up 1.2% (YTD: 13.9%)

NOTABLE LOSERS TODAY

  • SMM Rare Earth Terbium Oxide Spot Price Daily down -2.4% (YTD: 11.0%)
  • SHFE Bitumen Continuation Month 1 down -1.9% (YTD: 26.4%)
  • Palladium spot down -1.8% (YTD: -0.8%)
  • Platinum spot down -1.5% (YTD: -6.8%)
  • CME Live Cattle down -1.1% (YTD: 10.2%)
  • SMM Rare Earth Terbium Metal Spot Price Daily down -1.0% (YTD: 10.7%)
  • CBoT Wheat down -0.9% (YTD: 11.0%)
  • CBoT Soybean Meal down -0.7% (YTD: -18.9%)
  • Gold spot down -0.7% (YTD: -5.6%)
  • SMM Rare Earth Dysprosium Oxide Spot Price Daily down -0.6% (YTD: 34.5%)
  • Shanghai International Exchange TSR 20 Rubber down -0.3% (YTD: 10.2%)
  • SHFE Lead Continuation Month 1 down -0.2% (YTD: 5.0%)
  • EEX European-Carbon- Secondary Trading down -0.2% (YTD: 76.3%)
  • Intercontinental Exchange European Union Allowance (EUA) Yearly down -0.2% (YTD: 72.8%)
  • CBoT Rough Rice down -0.1% (YTD: 7.7%)
S&P GSCI Sub-Indices | Sources: ϕpost, FactSet dataGSCI Equal Weight Total Return Index | Sources: ϕpost, Refinitiv data

ENERGY UP STRONGLY TODAY

  • WTI crude front month currently at US$ 67.94 per barrel, up 1.2% (YTD: +40.9%); 6-month term structure in widening backwardation
  • Brent crude front month currently at US$ 72.25 per barrel, up 1.7% (YTD: +39.5%); 6-month term structure in widening backwardation
  • Brent volatility at 30.2, down -0.6% (12-month range: 26.1 - 43.4)
  • Newcastle Coal (ICE Europe) currently at US$ 170.75 per tonne, up 0.4% (YTD: +112.1%)
  • Natural Gas (Henry Hub) currently at US$ 3.91 per MMBtu, up 0.0% (YTD: +53.5%)
  • Gasoline (NYMEX) currently at US$ 2.30 per gallon, up 5.5% (YTD: +63.4%); 6-month term structure in widening backwardation
  • Low Sulphur Gasoil (ICE Europe) currently at US$ 589.00 per tonne, up 0.8% (YTD: +40.0%)
GSCI Energy | Sources: ϕpost, FactSet dataWTI, Brent 1-Month ATM Implied Vols | Sources: ϕpost, Refinitiv data

BASE METALS MOSTLY UP TODAY

  • Copper (COMEX) currently at US$ 4.27 per pound, up 0.2% (YTD: +21.4%)
  • Iron Ore (Dalian Commodity Exchange) currently at CNY 947.00 per tonne, up 1.8% (YTD: -13.3%)
  • Aluminum (Shanghai) currently at CNY 20,530 per tonne, up 0.9% (YTD: +31.2%)
  • Nickel (Shanghai) currently at CNY 144,440 per tonne, up 1.0% (YTD: +16.1%)
  • Lead (Shanghai) currently at CNY 15,430 per tonne, down -0.2% (YTD: +5.0%)
  • Rebar (Shanghai) currently at CNY 5,162 per tonne, up 0.3% (YTD: +22.3%)
  • Tin (Shanghai) currently at CNY 242,970 per tonne, up 1.6% (YTD: +59.1%)
  • Zinc (Shanghai) currently at CNY 22,595 per tonne, up 1.1% (YTD: +8.1%)
  • Refined Cobalt (Shanghai) spot price currently at CNY 362,500 per tonne, unchanged (YTD: +32.3%)
  • Lithium (Shanghai) spot price currently at CNY 715,000 per tonne, unchanged (YTD: +47.4%)
GSCI Base Metals | Sources: ϕpost, FactSet dataLME Base Metals 1-Month ATM Implied Vols | Sources: ϕpost, Refinitiv data

PRECIOUS METALS TODAY

  • Gold spot currently at US$ 1,791.18 per troy ounce, down -0.7% (YTD: -5.6%)
  • Gold 1-Month ATM implied volatility currently at 13.10, down -0.8% (YTD: -16.9%)
  • Silver spot currently at US$ 23.84 per troy ounce, down -0.1% (YTD: -9.7%)
  • Silver 1-Month ATM implied volatility currently at 23.04, down -1.1% (YTD: -43.4%)
  • Palladium spot currently at US$ 2,427.35 per troy ounce, down -1.8% (YTD: -0.8%)
  • Platinum spot currently at US$ 996.84 per troy ounce, down -1.5% (YTD: -6.8%)
  • Rhodium (Johnson Matthey, New York 09:30) currently at US$ 17,100 per troy ounce, up 0.6% (YTD: +0.3%)
  • Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,200 per troy ounce, unchanged (YTD: +100.0%)
GSCI Precious Metals | Sources: ϕpost, FactSet dataGold, Silver 1-Month ATM Implied Vols | Sources: ϕpost, Refinitiv data

AGS TODAY

  • Live Cattle (CME) currently at US$ 124.43 cents per pound, down 1.1% (YTD: +10.2%)
  • Lean Hogs (CME) currently at US$ 88.75 cents per pound, up 2.0% (YTD: +26.3%)
  • Rough Rice (CBOT) currently at US$ 13.36 cents per hundredweight, down -0.1% (YTD: +7.7%)
  • Soybeans Composite (CBOT) currently at US$ 1,346.00 cents per bushel, up 0.7% (YTD: +2.3%)
  • Corn (CBOT) currently at US$ 551.25 cents per bushel, up 1.2% (YTD: +13.9%)
  • Wheat Composite (CBOT) currently at US$ 711.25 cents per bushel, down -0.9% (YTD: +11.0%)
  • Sugar No.11 (ICE US) currently at US$ 19.73 cents per pound, up 0.8% (YTD: +27.4%)
  • Cotton No.2 (ICE US) currently at US$ 95.95 cents per pound, up 0.2% (YTD: +22.8%)
  • Cocoa (ICE US) currently at US$ 2,632 per tonne, up 1.6% (YTD: +1.1%)
  • Coffee Arabica (Colombia Excelso) currently at EUR 4,412 per tonne, up 1.4% (YTD: +39.4%)
  • Random Length Lumber (CME) currently at US$ 491.10 per 1,000 board feet, up 2.3% (YTD: -43.8%)
  • TSR 20 Rubber (Shanghai) currently at CNY 11,035 per tonne, down -0.3% (YTD: +10.2%)
  • Soybean Oil Composite (CBOT) currently at US$ 61.89 cents per pound, up 1.3% (YTD: +42.8%)
  • Crude Palm Oil (Bursa Malaysia) currently at MYR 4,589 per tonne, up 1.3% (YTD: +17.9%)
GSCI Agriculture | Sources: ϕpost, FactSet dataAGs 1-Month ATM Implied Vols | Sources: ϕpost, Refinitiv data

SHIPPING TODAY

  • Baltic Dry Index (Baltic Exchange) currently at 4,201, up 1.3% (YTD: +207.5%)
  • Freightos China To North America West Coast Container Index currently at 18,425, unchanged (YTD: +338.7%)
  • Freightos North America West Coast To China Container Index currently at 911, unchanged (YTD: +76.0%)
  • Freightos North America East Coast To Europe Container Index currently at 463, unchanged (YTD: +27.6%)
  • Freightos Europe To North America East Coast Container Index currently at 5,929, unchanged (YTD: +217.2%)
  • Freightos China To North Europe Container Index currently at 13,858, unchanged (YTD: +144.7%)
  • Freightos North Europe To China Container Index currently at 1,549, unchanged (YTD: +12.6%)
  • Freightos Europe To South America West Coast Container Index currently at 5,361, unchanged (YTD: +216.9%)
Freightos Indices | Sources: ϕpost, Refinitiv dataBaltic Dry Index | Sources: ϕpost, Refinitiv data

CARBON EMISSION ALLOWANCES (CO2)

  • EUA futures front month (European Energy Exchange) currently at EUR 56.54 per tonne, down -0.2% (YTD: +72.8%)

CO2 EUA Front Month Futures Prices | Sources: phipost.com, Refinitiv data