December RBOB prices established a lower low during the early morning hours, but they have since bounced back into positive territory. December gasoline prices trended lower following yesterday's EIA inventory data that showed an unexpected build. US weekly gasoline stocks rose by 1.356 million barrels to 206.274 million, which broke a four-week string of declines. Current inventories are 5.979 million barrels below last year but 3.276 million above the five year average. Gasoline imports came in at 781,000 barrels per day compared to 675,000 barrels the previous week. Average total gasoline demand for the past four weeks was down 4.01% compared to last year.
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