Gary LeBlanc + 50 GL December 2, 2019 Dec 2 2019 As RBOB continues to be sold off below $1.60 WTI maintains $56.00/barrel. Two days from now is the date for the ARAMCO IPO. I expect the Jan WTI contract to be in the $54.25 range by the end of the week as scalpers unload their contracts to other scalpers as their game of "Hot Potato" unveils itself to them...too late. Short 4 March contracts at $56.75. Short 11,500 shares of RIG at $4.80. Long 3,000 shares of DWT at 5.30. Jan contract is currently 55.84 at 1:20 pm EST. Quote Share this post Link to post Share on other sites
Gary LeBlanc + 50 GL December 2, 2019 Today RBOB hit $1.5750. The last time RBOB hit 1.5750 was on Oct 8th. WTI hit a low of $51.83 on that day. Today WTI closed at 55.98. WTI headed much lower. 1 Quote Share this post Link to post Share on other sites
Gary LeBlanc + 50 GL December 3, 2019 (edited) Dec 3 2019 RBOB is currently $1.57 at 6:30 pm EST. WTI is 56.42. API came out with an estimate of a 2.93 mb for the week. It will be interesting to see if gasoline production stayed at 10.1 mbd. If production was lower than 10.1 mbd that would mean gasoline demand continues to wane. Either way it's bearish for WTI. Edited December 3, 2019 by Gary LeBlanc Quote Share this post Link to post Share on other sites
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