Crude Oil, Natural Gas Prices to Remain Range Bound

Oil and natural gas have remained relatively quiet this summer as the market continues to make new highs and global conflicts escalate. From the trading floor of the NYMEX, Tom Reilly of SCS Commodities tells TheStreet’s Jill Malandrino that oil and natural gas volatility has certainly come in and really are not trading on fundamentals. Reilly expects oil to potentially sell off a bit here but not that much as the summer driving season comes to a close. The $90 level is most likely the downside to look at. He expects gasoline prices to remain around $3 and does not expect much movement in natural gas until we get more clarity into winter temperature trends.