March RBOB prices broke out above yesterday's inside day trading range to the upside during the early morning hours. Some traders suggested that the early support might have come from a rally in the Brent crude oil, a surge in global equity markets and gains in the euro currency relative to the dollar. Midwest cash gasoline prices were higher Tuesday on shipments to the south and from upcoming refinery work at a number of Valero units, and that could also be providing a level of support for March futures this morning. Expectations for today's EIA gasoline stocks report call for a build in the range of 1.25 to 1.5 million barrels.
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