Gasoline Market Update : Epic Research Singapore

On Nymex, April gasoline RBJ6, -0.14%  jumped by 8.3 cents, or 6%, to $1.471 a gallon and April heating oil HOJ6, -0.22%  added 2.3 cents, or 2.7%, to $1.233 a gallon.

Jay Hatfield, president of InfraCap and portfolio manager of their MLP ETF AMZA, +2.00% said the gasoline supply drop was fueled by a 28% year-over-year decline in gasoline prices. A forecast for a year-over-year increase in gasoline demand, combined with expectations for a decline in U.S. production of the fuel, “should result in the global oil market being close in balance by the end [of] 2016.”

April natural gas NGJ16, +0.91%  also climbed by 4 cents, or 2.3%, to $1.752 per million British thermal units ahead of an EIA supply report due Thursday.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg