October RBOB prices had a gap higher open Sunday evening and spent the overnight and early morning hours in positive territory. Some traders pointed to a tight US supply situation as offering a measure of support to prices. This comes from a slowdown in European import activity, as well as reduced refinery capacity in the Gulf Coast following Hurricane Isaac. The Commitments of Traders Futures and Options report as of September 4th showed non-commercial traders were net long 68,261 contracts, a decrease of 2,558. Non-commercial and nonreportable traders combined held a net long position of 83,161 contracts, for a small decrease on the week.
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