August RBOB prices traded higher during the early morning hours, supported by a positive outside market tone and better than 2.5% rally in Brent crude oil. Private industry data late Tuesday showed a surprise draw in US gasoline inventories last week. This is quite different than expectations for this morning's EIA report that call for a build of around 1.0 million barrels. Intramarket spreads in the RBOB market show the August contract expanding its premium over September, reflecting a level of tightness in the market.
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