February RBOB prices opened lower Tuesday evening and went to register a lower low during the early morning hours. Some of the weakness seemed to come in response to private industry data late Tuesday that showed a build in US gasoline supplies last week that was more than three times larger than expectations. A build in this morning's report would mark the seventh consecutive weekly build. While supplies build, US demand remains below its 10-year average.
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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 Nasdaq, Inc.