Publications: Notes at the Margin

Gasoline: What Is Up? Or Rather, What Is Going Down and Will Crude Follow (July 8, 2014)


Today, data on gasoline open interest gives every sign of something going on. Open interest in the August futures contract today is fifty percent higher than at this time last year. It is also at least fifty percent higher than at any time in the past for this time of year. The current large increase in open interest should raise questions, especially since open interest in the rest of the petroleum complex remains essentially unchanged. Our report provides the details on this development and discusses potential implications.


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