July RBOB prices rallied up to a new four-day high during the early morning hours. The recent 13-week string of US inventories draws, totaling 27.86 million barrels, has pushed current supplies to 1.56% deficit compared to the five year average. This becomes a greater concern as the key summer driving season kicks off with next week's Memorial Day holiday. While there is some hope that the continued rise in refining capacity could help rebalance the market in coming weeks, it has so far been slow to materialize.
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