October RBOB prices were slightly higher during the initial morning hours but came off their high of the day ahead of the US opening. Meanwhile, October RBOB drafts a measure of support on tight supply conditions in New York, but that is expected ease in coming weeks as flows make their way out of the Gulf region and European shipments arrive. There is also some talk that demand has picked up with export flows to Venezuela to compensate from lost output from a late August fire at a key refinery.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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