Morning Gasoline Market Report

By Roger Baettig | May 09 2012 10:35 AM

June RBOB prices registered a higher high Tuesday evening but grinded lower during the initial morning hours. Private industry data late Tuesday showed an unexpected and large weekly draw in US gasoline inventories, and that might have lent a level of support to RBOB market. Expectations for this morning's EIA report are for a modest build of 200,000 barrels. Meanwhile, the latest estimate from the EIA lowered their average summer gasoline price forecast by $0.16 per gallon to $3.79.

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