September RBOB prices established a lower low during the initial morning hours and were down nearly $0.05 from yesterday's new four month high. The weak price action over the last 24 hours and overbought technical status of the market suggest a correction could be in the offing. Perhaps ideas of a possible release of US Strategic petroleum reserves if gasoline prices continue to rise after the Labor Day holiday has helped ease tight supply concerns.
Saturday, May 18, 2013 As of 8:02 PM EDT
U.S. EDITION
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