A few sidenotes to start the week: 1) WTI and Brent fell below their lower bollinger bands, then reversed from the vicinity of their 50 day MAs Friday. ULSD and Gasoil fell below their lower bollinger bands, then reversed just in front of their 50 day MAs. Given these technical factors from Friday, a headline induced bounce would be appropriately timed to start the week. The durability of any such bounce will be up for debate though. 2) Our primary focus shifts to June in RBOB, ULSD, and Henry Hub. However, when it comes to products, we are not ready to take our eyes off the May contracts just yet. 3) There is still a chance for some wild price action (especially in RBOB) as we head into May expiry at the end of the month.
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