September RBOB traded higher during the initial morning hours, as it built on Tuesday's gains. It also seemed that the RBOB market drafted support from a rally in Brent crude oil and strength in the Euro currency. Some traders indicated that September RBOB embraced private industry data released after Tuesday's close that showed an unexpected decline weekly gasoline inventories, quite different from estimates for this morning's EIA data that call for a build of 1.0 million barrels. Meanwhile, yesterday's EIA Short-Term Energy Outlook estimated average retail gasoline prices in 2011 at $3.53, up nearly 27% from 2010.
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