September RBOB prices traded lower during the initial morning hours but were contained within Thursday's range. RBOB faces a weak outside market tone this morning, with a rally in the US Dollar, weaker global equity markets and a number of seemingly negative big picture events. Uncertainty surrounding the US debt situation and potential default are seen as factors that could further limit economic growth and put added pressure on demand. This was highlighted in EIA data Thursday that pegged May US gasoline demand down nearly 5.0% from year ago levels to an average of 8.784 million barrels per day. This was the weakest May showing in 10 years.
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