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US RBOB heating oil up, but end Q2 with big losses


July RBOB, heating oil join crude in day's rally; Quarterly performance worst since Q4 2008


June 30, 2012 7:00 by

U.S.gasoline and heating oil futures rallied with crude futures on Friday, but closed the quarter with their biggest losses since the fourth quarter of 2008.


NYMEX RBOB July gasoline expired and settled at $2.7272 a gallon, up 11.30 cents, or 4.32 percent, the biggest one-day percentage gain for front-month gasoline since March 1, when prices closed up 10.2 percent.


For the month, July RBOB fell 9.78, or 3.46 percent, extending losses for the third month in a row. For the quarter, front-month gasoline dropped 66.27 cents, or 19.55 percent, the biggest quarterly percentage loss since the last quarter of 2008, when prices tumbled 59.4 percent.


NYMEX July heating oil expired and closed at $2.6960 a gallon, up 14.41 cents, or 5.65 percent, the largest one-day percentage gain for front-month heating oil since July 30, 2009, when prices rose 5.83 percent gain.


For the month, July heating oil fell 1.02 cents, or 0.38 percent. For the quarter, it slid 47.24 cents, or 14.9 percent, front month heating oil’s biggest quarterly loss since the fourth quarter of 2008, when prices closed down 50.9 percent.


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