March RBOB prices waffled around unchanged levels throughout the early morning hours, as they contrasted a weak macroeconomic tone against yesterday's smaller than expected EIA inventory build. There was also a mixed trade in the cash market, with Midwest cash differentials under heavy pressure from a boost in the region's inventory to levels not seen in two years. Meanwhile, the west coast cash market was higher in response to a sharper than expected draw in the region. March RBOB was able to overcome a bout of weakness yesterday after EIA inventory data showed a minor build of 400,000 barrels. EIA gasoline stocks are 8.92 million barrels below last year but 3.335 million above the five year average. Average total gasoline demand for the past four weeks was down 6.50% compared to last year. Gasoline imports came in at 548,000 barrels per day compared to 715,000 barrels the previous week.
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