---
title: Futures Firm After Almost 2 Week Correction
description: China was said to have a nearly 14% increase in Crude over the last 30 days. Look for next week to be choppy with HO testing the 2.90 mark.
---

[Dennis K. Burke, Inc. Market Updates ](https://www.burkeoil.com/value-added-services/energy-market-updates)

# [Futures Firm After Almost 2 Week Correction](https://www.burkeoil.com/value-added-services/energy-market-updates/bid/104473/futures-firm-after-almost-2-week-correction)

 Written by [Mark Pszeniczny](https://www.burkeoil.com/value-added-services/energy-market-updates/author/mark-pszeniczny) | Jan 10, 2014 9:58:00 PM

NYMEX values appeared to find support just above the 2.90 level on front month HO after a long cold stretch.  The Polar Vortex that gripped a large portion of the Country, and plagued us in the Northeast with long terminal lines, appears to be subsiding.  Many of us are getting a well deserved breather as we return to somewhat normalcy.  

The recent correction has shaved off roughly 18 cents on Heat and close to .20 on RBOB.  Bulls returned as new unemployment figures were released showing that while the actual rate was down to 6.7%, the economy failed to add the expected 200k jobs in the last month.  Many point to the loss of December seasonal workers and the fact that more and more Americans have simply stopped looking for a job.  This caused the greenback to fall, thus pushing Commodities higher.  The new talk will ultimately put immediate pressure on new FED Chief Yellen and her stance on any new rate changes.  Strong foreign import data also put supported markets as China was said to have a nearly 14% increase in Crude over the last 30 days.  Look for next week to be a choppy session with HO testing and ultimately bouncing off the 2.90 mark.  

At the Close, Crude added  1.06 to close at 92.72, RBOB closed up .0265 at 2.6691, and heat settled out +.0193 at 2.9407

| RBOB Close |
| --- |
|                       CLOSE     CHANGE             FEB   2.6691         +.0265 MAR   2.6797         +.0245 APR    2.8547         +.0217 MAY    2.8511         +.0207 JUN    2.8272         +.0202              JUL    2.7949         +.0190      |

| HEAT Close |
| --- |
|       CLOSE            CHANGE FEB   2.9407        +.0193 MAR   2.9234        +.0180      APR    2.9100        +.0167       MAY   2.9019        +.0159  JUN   2.8968        +.0157  JUL   2.8948        +.0153 |

 

 

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