March RBOB prices traded higher during the early morning hours and appeared to benefit from industry reports that showed a smaller than expected increase in gasoline inventories. It also appeared that March RBOB garnered support from the much larger than expected decline in US distillate stocks. Meanwhile, there was positive news from the American Trucking Association yesterday that showed their Truck Tonnage Index increasing to the best levels since September 2008. Additionally, weekly US retail gasoline data from SpendingPulse showed an improvement in demand during the recent week, which they pegged at 8.94 million barrels per day. The latest expectations are for US gasoline inventories to increase by 2.25 million barrels.
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