Trading Gasoline Futures
Gasoline Futures Market Defined and Explained
Everyone knows what gasoline is, and trading gasoline based on the volatility can garner huge profits. According to NYMEX, Gasoline is the largest single volume refined product sold in the United States and accounts for almost half of national oil consumption. Gasoline is a highly diverse market, with hundreds of wholesale distributors and thousands of retail outlets, often making it subject to intense competition and price volatility.
Unleaded Gas Futures Prices
The NYMEX Division New York harbor gasoline futures contract trades in units of 42,000 gallons (1,000 barrels) and is traded in dollars and cents. It is based on delivery at petroleum products terminals in the harbor, the major East Coast trading center for imports and domestic shipments from refineries in the New York harbor area or from the Gulf Coast refining centers. This market trades with monthly closes, creating a short-term trader’s dream with volatility and the market’s short term nature.
Gas Trading Software
Ask any gasoline trader, producer or general investor what trading tools or types of financial analysis he is using and you’re probably going to hear a list of different technologies and methods. However, having the right tool for the job is critical. Trading software can be used to augment an existing approach by supplying an inter-market perspective. The key to a gasoline trading system is its ability to forecast moving averages. One of the better gasoline futures trading software products is VantagePoint trading software that will help “see” what is likely to happen in the gasoline futures market before other traders (using only single-market analysis) catch wind of it.