Energies Close
The energy complex finished higher across the board with Crude up 0.8% to 115.47, Unleaded gaining 1.6% to 291, Heating Oil rising 1.4% to 316.65 and Natural Gas adding 1.3% to 8.082.
Crude rallied for much of the afternoon to reverse its morning losses. Today was the last day of trading for the September contract, and traders may have been unwinding their month-long shorts or rolling over their positions into the October contract. October Crude closed at 115.59.
Natural Gas also rallied in the afternoon, breaking through resistance at the $8 level. Tomorrow resistance will be at the 9-day moving average of 8.171 with support at $8.
Heating Oil continued to be supported by the 200-day moving average (306.10). For the second straight day, the 320 level served as resistance.