Energy markets take center stage as crude oil, heating oil and RBOB grapple with major supply disruptions, refining constraints and an increasingly complicated geopolitical backdrop.
On this episode of The Futures Rundown, Mark Longo welcomes back Brian Pieri, founder of Energy Rogue, for a deep dive into the wild action across the energy complex. Brian breaks down the disconnect between the physical and financial crude oil markets and explains why today's oil market feels like a volatile game of volleyball — with traders trying to keep crude in the air while waiting to see who eventually spikes it. They also explore the surge in heating oil and diesel, refining bottlenecks, RBOB, natural gas seasonality, LNG exports and the growing impact of AI-driven electricity demand. Plus, Mark and Brian run through the biggest weekly and year-to-date movers across futures, including energy, metals, agriculture and crypto. Then it's time for the Futures Free-for-All, with listener questions on USO vs. XLE, the challenges of futures-based energy ETFs, memories of crude oil's historic plunge below zero in 2020, and the outlook for nuclear power and uranium.