Results

Reality bit the Bulls on Thursday in the Fuels markets. Much of the recent run up has focused on the upcoming busy “driving season”. The thought was drivers would bust through their protective Covid bubbles, hop in a car, and burn some gasoline. The EIA’s Wednesday report cast doubts on those assertions with weak imputed demand. India’s ongoing Covid struggles keeps the Bulls from running completely rampant. The EIA data created additional misgivings. Friday’s attention will be on the US’ April non-farm payroll report and unemployment released at 8:30 am EDT.