Crude Oil, Gasoline Futures Becoming More Uncorrelated

Includes: OIL, USO
by: TickerSense

Below we plot the relative performance of Gasoline futures contracts versus Crude Oil futures. Throughout most of last year the two performed relatively in-line, until the beginning of this year saw an 80% run-up in gasoline prices (as of the 4/30 peak). Gas is currently up 41.5% for the year while Crude Oil is up 16.3%.

We noticed a further lack of correlation as Gasoline has started to slow down at the same time Oil has begun to rally.

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