September RBOB prices slipped back below the $2.90 area during the initial morning hours. Some traders suggested that last week's advance was susceptible to a round of profit-taking selling. Meanwhile, damages to Midwest refiners last week, as well as the fate of Enbridge pipeline 14 remain in the balance. The Commitments of Traders Futures and Options report as of July 31st showed non-commercial traders were net long 64,582 contracts, a decrease of 6,220. Non-commercial and nonreportable traders combined held a net long position of 73,956 contracts, for a decrease of 5,994 in their net long positioning.
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