January RBOB prices broke out of recent congestion this morning, fueled by an early morning shift in sentiment. While expectations are for this morning's EIA data to show an increase in US gasoline demand over the Thanksgiving holiday, it is still expected to remain under year-ago levels. The latest weekly inventory data has seen demand averaging around 8.6 million barrels per day in November. Expectations for this morning's EIA report are for gasoline inventories to have increased by 1.5 to 2.0 million barrels.
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