RBOB futures recovered from a seven-session low to near $3.52.

Dan Deming of KKM Financial analyzes the recent divergence between RBOB Gasoline futures and WTI Crude Oil futures. RBOB futures bounced back from a seven-session closing low, gaining more than 2% to trade near the 3.52 level heading into the weekend. While Middle East dynamics introduced some midweek selling pressure, uncertainty is now providing a bid for RBOB. In contrast, WTI Crude Oil futures remain relatively flat around the 95 level for the day and are down over 10% for the week. Deming highlights the price dispersion between the two products over the last couple of months, noting that RBOB remains just 5% off its all-time high, while WTI peaked more than a month ago.