Gasoline futures jumped 2% and U.S. oil prices fell 1%, as traders weighed the risk of supply disruptions.
Gasoline futures are about triple their prices of just four years ago.
Gasoline futures are the biggest gainers in energy markets this year, rising 25%, beating crude oil, up 6.9%, and heating oil, up 10%.
Gasoline futures have dropped four days in a row, ABC News reports, falling more than 6 percent from their peak late last month.
FORBES: Recall $5-a-Gallon-Gas Scare? That Was Soooo First-Quarter
Selerity alerted clients, who were able to buy gasoline futures contracts before the news spread widely and caused prices to soar, says Mr. Terpstra.
Gasoline futures for September are down four cents a gallon in early trading today after settling Monday at their highest level in four months.
FORBES: As Gasoline Price Jumps, Will Isaac Coax Obama To Tap Strategic Reserves?
The two day plunge in crude and slightly lower wholesale gasoline futures prices are expected to at least slow the rise in pump prices, and perhaps push them back slightly.
Sandy caused the price of gasoline futures to climb 10 cents to 15 cents a gallon, and a similar increase could unfold at the pump, Mr. Daco said, adding that any price spike would last just days.
Be like the Fed telling you to buy oil stocks or crude oil futures due to expectation higher gasoline prices this summer.
FORBES: China's Central Bank Recommends Gold For "Value Preservation"
The Merc has agreed to be the exclusive electronic-trading post for Nymex's key oil, gas and gasoline contracts and, eventually, for the metals futures traded in Nymex's Comex division through 2016.
The prices of refined products like diesel, gasoline and jet fuel, might increase much more sharply than crude-oil futures because of the refining belt that runs along the Gulf.
应用推荐