November RBOB prices came under heavy selling pressure in early morning action and broke down to their lowest level since September 20th. A much larger than expected build in US gasoline supplies last week of 1.720 million barrels might have eased concern over tightening supplies. EIA gasoline stocks are 9.143 million barrels below last year and 7.448 million below the five year average. Average total gasoline demand for the past four weeks was down 2.29% compared to last year. Gasoline imports came in at 530,000 barrels per day compared to 502,000 barrels the previous week.


View All Market Commentary

*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.

 

Copyright CME Group All rights reserved.