NYMEX RBOB strengthens as USAC gasoline stocks remain tight despite build

摘要

NYMEX RBOB futures rallied against the broader energy complex June 3 as a modest US gasoline build failed to alleviate regional tightness ahead of the high-demand summer driving season. NYMEX July RBOB settled up 77 points at $2.2018/gal, while July ULSD fell 54 points to $2.1017/gal. Total US gasoline inventories climbed 1.5 million barrels to 233.98 million barrels in the week ended May 28, US Energy Information Administration data showed June 3, driven by a more than 2 million-barrel build on the US Atlantic Coast. Despite the build, USAC gasoline stocks remained nearly 9% behind the five-year average and were at the lowest level in the week leading up to the US Memorial Day holiday, which traditionally marks the start of the summer driving season, since May 2015.