Gasoline Market Update : Epic Research Singapore

February gasoline RBG6, -1.26%  sank 9.5 cents, or 7.6% to $1.162 a gallon and February heating oil HOG6, -0.76%  fell 4.5 cents, or 4%, to $1.081 a gallon.

“Any fear premium in conflicts between Saudi Arabia and Iran, or the overnight North Korea fiasco, have been swallowed up by continued oversupply data,” said Macaluso. “Furthermore the Saudi-Iran conflict is likely to enhance the price war headed by Saudi Arabia.”

Elsewhere in the energy complex, February natural gas NGG16, +0.49%  fell 5.8 cents, or 2.5%, to $2.267 per million British thermal units, ahead of the EIA’s weekly update on natural-gas supplies due Thursday.

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