March RBOB prices grinded lower during the early morning hours. Some traders were of the view that the gasoline market remained under pressure following yesterday's unexpectedly large inventory build. EIA data showed a 3.717 million barrel build in gasoline stocks. Average total gasoline demand for the past four weeks was down 6.1% compared to last year. Gasoline imports came in at 553,000 barrels per day compared to 444,000 barrels the previous week.
Join the Discussion