February RBOB prices established a higher high overnight and reached their highest level since September 16th. It is possible that some of the early evening support might have from the latest US Department of Energy figures, which showed US gasoline prices rising for a second week in a row to $3.30 per gallon. The gains in gasoline prices over the last couple of weeks was partially in response to a nearly 10% gain in crude oil prices. Some traders also indicated that a level of support for the gasoline market might be coming from the closure of 3 Petroplus refineries in Europe, which is seen as holding back imports into the US.
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