Energy Prospectus

The crude oil complex traded higher throughout the US morning hours, supported by gains in equity markets, weakness in the US dollar and prospect that election uncertainty could be drawing to a conclusion. December RBOB prices garnered support from reports that a major New Jersey refinery could remain closed for another couple of weeks. This helped December RBOB climb as much as 2.25% on the session. December natural gas prices were also higher this morning, helped by prospects for colder near term temperatures boosting heat-related demand. There was also speculation that this week's storage injection could be on the smaller side of expectations.

I now think there is a good chance we see natural gas over $4 in December.