August RBOB prices trended lower throughout the early morning session, with follow through weakness from yesterday's negative reversal action. Outside market weakness this morning, talk of fresh supplies to come in the US cash market and a larger than expected build in yesterday's EIA inventory data present added negatives to the gasoline market. Yesterday's EIA inventory data revealed a larger than expected build of 2.078 million barrels last week. EIA gasoline stocks are 8.351 million barrels below last year and 6.741 million below the five year average. Average total gasoline demand for the past four weeks was down 4.84% compared to last year. Gasoline imports came in at 773,000 barrels per day compared to 988,000 barrels the previous week.
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