NYMEX is open right now, until later this evening, when a HALT will be implemented.
Gasoline futures are down to 1.70 at this moment, which, at least in the spring of 05, brought us a retail gas hike to 2.43. (I was interviewed when this happened in Spring 05, and in the interview, my computer screen says wholesale prices were 171.50, and the gas hike had just happened to 2.43)
I’m not too sure we’ve seen the bottom of prices. I’d be hard pressed to see a rise early this week, but we don’t have much more to fall. Looking for 2.35-2.39 if NYMEX holds until tomorrow. However, later in the week we *could* see a rise.
It is noteworthy that its getting harder to predict prices with this kind of market.
Not to forget about newly formed tropical depression six, and Labor Day higher demand.
Prices could jump later in the week, but I’d like to think we’re safe a couple more days.