Morning Gasoline Market Report

By Roger Baettig | August 01 2012 9:49 AM

September RBOB prices took on a higher track during the initial morning hours and established a higher high in the process. A measure of support in the RBOB market this morning came from a slight rebound in outside market sentiment, following the Chinese economic data, as well as hopes that more central bank stimulus could be on its way. The near term gasoline supply situation remains tight, with a number of refinery closures and recent closure of an Enbrige pipeline. Expectations for this morning's EIA data are for a slight build of 250,000 barrels, which compares to the five year average draw for this week of the year of 700,000 barrels.

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