CommodityTrends

May Gasoline RBOB has been one of the standout markets on the board. Over the last month, it is up 37.72%, which is a huge move in a short period of time.
When I look at the daily chart, the first thing that jumps out is the strength of the rally. Price ripped to the upside and broke above multiple weekly chart resistance zones. It also pushed through important resistance levels from both the weekly chart, which I mark with the gold horizontal lines, and the monthly chart, which I mark with the purple horizontal lines. That tells me this was not just a small bounce. This was real buying pressure.
Part of the story here is the war in the Middle East. As of March 27, 2026, the conflict involving Iran has badly disrupted shipping through the Strait of Hormuz, which is one of the most important energy choke-points in the world. That has pushed oil and fuel prices higher and kept traders on edge about supply and transportation risk.
From the March 2 close to the March 23 high, this rally was worth more than $40,000 per contract. That gives you a good idea of just how powerful the move has been.
Of course, no market goes straight up forever, and after a run like this it would be normal to see some backing and filling. Even so, the bigger message here is clear. May Gasoline RBOB has shown serious strength, and the war premium in the energy markets has clearly helped add fuel to the fire.

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