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Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planking trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
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May WTI crude oil this morning is down -79 cents (-1.54%) and May gasoline is down -0.0177 (-0.94%). Thursday's Closes: CLK5 +2.22 (+4.51), RBK5 +0.0336 (+1.83%). May crude oil and gasoline prices on Thursday rallied to new 3-week highs and closed higher. Oil prices were mainly boosted by Saudi Arabia's air strikes against Shiite Houthi rebels in Yemen, which raised worries about a disruption of Middle East oil supplies and even about whether the conflict could spread into Saudi Arabia itself. Crude oil prices were undercut by the higher close in the dollar.