October RBOB established a new 4-session low during the overnight session, as it tracked weakness in crude oil and global equity markets. The RBOB market continues to grapple with the aftermath of Tropical Storm Lee. Some traders indicated that a tightening near term supply situation was a minor concern and was not highlighted in the intramarket spreads. The Commitments of Traders Futures and Options report as of August 30th showed non-commercial traders were net long 51,633 contracts, an increase of 5,943. Non-commercial and nonreportable traders combined held a net long position of 57,447 contracts, an increase of 8,517 during the report week.
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