March RBOB prices broke out of their consolidation pattern overnight and achieved another new contract high in the process. US gasoline prices have garnered support from the unrest in Libya and fears that it could spread into other regions in the area. The Commitments of Traders Futures and Options report as of February 15th showed non-commercial traders were net long 62,633 contracts, a decrease of 5,593. Non-commercial and nonreportable traders combined held a net long position of 73,061 contracts, a decrease of 5,624 during the report week.
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