September RBOB prices traded higher during the initial morning hours, breaking out to their highest level since May 5th. It seemed that early morning gains came from a boost in optimism on news that US lawmakers have reached a compromise on the US deficit. The Commitments of Traders Futures and Options report as of July 26th showed non-commercial traders were net long 68,078 contracts, a decrease of 615. Non-commercial and nonreportable traders combined held a net long position of 79,626 contracts, an increase of 1,681 on the week.
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