February RBOB prices grinded higher in overnight action but have since reversed course. Some traders indicated that a softening macroeconomic tone and expectations for another weekly inventory build pulled prices back into the middle of the 2012 trading range. The latest read on US retail gasoline demand over the New Year's Holiday showed a decline from year ago levels. This morning's EIA gasoline stocks report is expected to show a weekly build in the range of 2.0 million barrels.
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