NEW YORK (TheStreet) --RBOB Gasoline December orders were moving higher by 5.47% during afternoon trading on Monday. However, retail prices of gasoline remain 10 cents lower since last month, and futures orders are lower around 9%.
With crude oil climbing today, up 4.45%, CNBC's Futures Now segment on the "Halftime Report" detailed how this will impact gasoline prices moving forward.
"We'll have to see if the rise in both crude oil and gasoline sustains itself," NationShares president and CIO Scott Nations said. "I'm not certain that is going to happen."
The moves in gasoline we have seen recently are the result of fundamentals.
"Earlier this month, producers were producing 10.5 million barrels of gasoline every day, that is a record," Nations noted.
On top of that, the amount of gasoline in storage has also eclipsed record highs as well.
"That is why we have seen the price of gasoline fall," Nations stated.
Equity Armor Investments managing member Brian Stutland discussed the levels to watch before locking in the trade.
"In RBOB I'm looking at the $1.43 level, when we get a close above there that's when I would become more bullish about gas prices going higher," he said.
However, the level may be unrealistic without OPEC committing to cut oil production.
"If there is some sort of production cut then we are off to the races on the upside, but, now that we have seen gas move off the lows and climb back today, there's a lot of risk on the table," Stutland contended.