21.11.2013 - Don't be fooled by the Gasoline ETF's rise
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
Print