August RBOB prices traded lower during the early morning hours but remained inside of yesterday's trading range. While a weak outside market tone and slide in August Brent crude oil present negative headwinds for RBOB this morning, there remain a number of positive developments supporting its relative out performance within the complex. The supply situation in the gasoline market appears to be tightening, evidenced by Amsterdam-Rotterdam-Antwerp gasoline stocks that slipped to their lowest level since November. Yesterday's EIA gasoline inventory data showed a smaller than expected build in US stocks last week of 151,000 barrels. EIA gasoline stocks are 7.566 million barrels below last year and 7.518 million below the five year average. Average total gasoline demand for the past four weeks was down 4.26% compared to last year. Gasoline imports came in at 823,000 barrels per day compared to 773,000 barrels the previous week.