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Record Gasoline Demand Expected


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According to the EIA, United States gasoline consumption averaged 9.32 MMbpd (million barrels per day) in 2016 and 9.29 MMbpd in 2017. The EIA estimates that U.S. gasoline consumption could average 9.33 MMbpd and 9.40 MMbpd in 2018 and 2019, respectively. Also, consumption could hit the highest annual average in 2018 and 2019. Furthermore, U.S. gasoline demand reached 9.76 MMbpd in August 2016, which is likely to be exceeded this year.

So lets take a look at the current technical setup of the August RBOB (Reformulated Gasoline Blendstock) futures contract.

August 18 Gasoline Futures - Daily

Chart provided by QST

Get your free copy of the 2018 Commodity Chart Book from ADM Investor Services!

Get your free copy of the 2018 Commodity Chart Book from ADMIS. Recently updated with brand new charts and commentary, Chart Book includes useful historical data, Open Interest and Volatility on 20 popular futures contracts, including Corn, Soybeans, Wheat, Gold, Crude Oil, the S&P 500 Index and more.

Download your complimentary copy today!

My many years of trading futures markets does make a difference. Feel free to call or email me if you have any questions or would like to open an account at Open An Account. I can be reached at 312.242.7990 and blake.robben@archerfinanicals.com respectively.

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The author does not guarantee the accuracy of the above information, although it is believed that the sources are reliable and the information accurate. The author assumes no liability or responsibility for direct or indirect, special, consequential or incidental damages or for any other damages relating or arising out of any action taken as a result of any information or advice contained in this commentary. The author disclaims any express or implied liability or responsibility for any action taken, which is solely at the liability and responsibility of the user. In addition, the author does not currently maintain positions in the commodities mentioned within this report.



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About the author


After graduating from Mizzou with a Bachelors in Economics and an emphasis in mathematics, Blake began his career at Lind-Waldock as an order specialist and quickly rose to the ranks of Desk Supervisor. He was then promoted to the Lind-Plus division where he spent 15 years assisting clients.  His methodology is to read as much fundamental research that he can get his hands on, and then employ proprietary technical indicators to time buy-sell decisions.  He uses ADMIS fundamental research along with proprietary technical indicators and strict money management principles to help clientele navigate these markets.

To learn more about Blake Robben, send an email to blake.robben@archerfinancials.com or contact him directly at 1.312.242.7990.

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