Gas prices could pick up in summer from refinery pressures
CIBC Private Wealth US Senior Energy Trader Rebecca Babin joins Yahoo Finance's Market Domination to talk about the price pressures in the energy market stemming from OPEC's extended production cuts for oil (CL=F, BZ=F) and its spillover into gas prices (RB=F) ahead of the summer season. "Over the course of the summer, we're going to see a lift in gas prices, probably closer to that kind of $3.65, $3.70 level. Nowhere near the point where it starts to make people change their mind on consumption," Babin states. "But I would expect we see a bottoming here, and throughout the course of the summer we see a little incremental rise as demand picks up..." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
