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Thursday, March 23, 2006

Bullish Gasoline Traders Get Burned

FERC ruling burns bullish Gasoline traders: Lead month April Unleaded Gasoline futures posted their largest 1-day loss of the year, as bullish traders were caught by surprise by a Federal Energy Regulatory Commission (FERC) directive to allow Colonial Pipeline Co. to continue to ship gasoline containing methyl tertiary butyl ether (MTBE), an additive that is being phased out in the coming months. This will help to increase supplies of Gasoline that will be deliverable against the NYMEX April Harbor-Unleaded Gasoline contract. Read More....