Morning Gasoline Market Report 12/13

By International Business Times,  December 13, 2012, 11:04:20 AM EDT

January RBOB prices grinded lower during the initial morning hours, following weakness in the crude oil market. Some traders suggested that the RBOB market might also be responding to yesterday's EIA inventory data that showed a much larger than expected build in supply of 5.0 million barrels. EIA gasoline stocks are 1.703 million barrels below last year, but 5.118 million above the five year average. Average total gasoline demand for the past four weeks was down 1.25% compared to last year. Gasoline imports came in at 585,000 barrels per day compared to 513,000 barrels the previous week.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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