Basis for Prompt RBOB Weakens after Thanksgiving Holiday
CRANBURY, N.J. (DTN) -- Basis for prompt delivered RBOB in the physically
traded New York Harbor market weakened 375 points to a 4.25cts premium to
December futures on the New York Mercantile Exchange Monday afternoon.
The steep falloff in basis follows higher bids ahead of Thanksgiving Day,
which reached a 7.75cts futures premium. A trade for RBOB for a Saturday
(11/25) barge delivery that day traded at a 7.5cts premium to the December
Monday afternoon, RBOB November anys and for delivery on Thursday were
assessed at a 3cts premium to December futures, and at a 1.5cts premium for
Dec. 3-5 delivery.
Brian L. Milne, 1.732.768.0260, email@example.com, www.dtn.com.
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