RBOB prices were lower earlier this morning on the Chinese interest rate hike news and follow through weakness from yesterday. March RBOB posted a new contract high Thursday but reversed those early gains as the day unfolded. Perhaps some of the weakness came in response to a build of 11.0% in Amsterdam-Rotterdam-Antwerp (ARA) gasoline inventories over the past week. There were also reports of a two-cent increase in US West Coast cash gasoline prices, but the higher pricing seemed to limit demand and was viewed as a negative factor.
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