November RBOB prices tested and held above an early morning test of Friday's low, and that was seen by some technicians as a positive. Some traders indicated that the RBOB market might have garnered support from renewed buying activity in the Midwest market Friday afternoon, ahead of the weekend. In the meantime there seemed to be supply disruptions in the Northeast market as ConocoPhillips redirected gasoline shipments to New York after taking their Pennsylvania refinery down. The Commitments of Traders Futures and Options report as of September 27th showed non-commercial traders were net long 36,361 contracts, a decrease of 5,138. Non-commercial and nonreportable traders combined held a net long position of 39,282 contracts for a decrease of 8,810 during the week.
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