buy while you can. some big guys unloaded some long crack spreads. [which appears to explain front month crude and gasoline's behavior] Here we go to 2.25 May !
The gasoline will peak earlier this year and all the gasoline and refiner longs will crash and burn. Big boys are playing the lemming game.
you really think ? demand is up y/y, inventories are down, production is lower, etc. etc. I say RBOB peaks 2.30-2.50 this summer easy, adding in political and 'hurricane' premiums. on the other hand, i do think the crack spread comes down, mainly because price of oil is going up as well.
Not sure about RBOB but RB is -> It's Gas. 1 tick (.0001) is $4.20 It has a multiplier of 42000 (every dollar move up or down is $42000) Very volatile high leverage kinda play.