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Don’t be fooled by the Gasoline ETF’s rise

Posted on 21 November 2013

Hopes for a prolonged QE program under the leadership of Janet Yellen - nominated Fed chairperson - has spread optimism globally across commodities. This has resulted in a weakening dollar and higher prices for crude oil and refined crude products like gasoline.
The average price of gasoline bounced to nearly $3.20 per gallon from its 33-month low of about $3.17 earlier last week. Immediately following Yellen’s testimony which suggested to many that the stimulus would be kept intact at least for the short term, gasoline price gained almost a penny in last Wednesday trading. This marks the biggest one-day gain since October 16th………………………………..Full Article: Source


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VRS - who has written 36638 posts on Opalesque Commodities Briefing.


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