Israel and Palestinians in the Gaza Strip may not be oil producers, but the conflict between the two groups has elevated the geopolitical risk premium for the oil-rich Middle East region over concerns of supply disruptions should hostilities spill out to other countries. Israel launched air strikes against Hamas targets in Gaza in mid-November following…
Gasoline Futures Tumbles on Demand Destruction
Brian L. Milne, Refined Fuels Editor, Telvent DTN A loss of gasoline demand in the heavily populated Northeast due to Hurricane Sandy pressed New York Mercantile Exchange RBOB futures to a 4-1/2 month low, with the contract, short for Reformulated Blendstock for Oxygenate Blending, used as a benchmark in setting spot gasoline prices. Although long…