August RBOB prices traded sharply higher this morning, rallying above the $2.53 level and into a new seven-day high. Some traders viewed the higher open Thursday evening and upside follow-through action this morning as positive forces for RBOB. Additionally, a rally in risk assets this morning on the back of the European agreement to stabilize bond markets has helped to boost the crude oil market by more than 4.0% in early action, and that could be providing a measure of support to RBOB.