RBOBReformulated Blendstock for Oxygenate Blending (gasoline production)
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That slowdown can also be seen in the second chart: Since the end of August, the RBOB price is down 30 percent, while crude oil is off by just a few percentage points.
On the refined product front RBOB gasoline has reentered the longer term upward trading channel while the spot HO contract is heading in that direction but still has some ground to make-up.
Prices of gasoline component RBOB for September delivery slumped to a fresh trough of 186.
In addition, the NYMEX Crude Oil, RBOB Gasoline and Heating Oil Minute-Marker futures contracts will also be listed for trading on the NYMEX trading floor.
Dominick Chirichella of the Energy Management Institute said RBOB had increased by almost 8 percent in the last three trading sessions as the October futures contract approaches expiry.
In addition to making application for the distributor's licenses, UPDA Texas Trading has completed the formulation of its RBOB (Reformulated Blendstock for Oxygenate Blending) gasoline blend for utilization in the distribution agreement under negotiation.
And, as on July 12, 2013, the price driver for world crude oils on July 17, 2015, was gasoline in the US, with the RBOB at NYMEX on July 12 closing at a high of $3.
In the wake of the sharp slide in prices this week, some traders feel that the overnight recovery in the RBOB market may not be that surprising especially since prices at this week's lows were down by close to 25 cents a gallon from their mid September highs.
They boosted their net long RBOB gasoline positions, while heating oil moved from net short to net long.
Gasoline sold in the Los Angeles spot market at a 10-cent premium over the July contract for RBOB gasoline on the Nymex.
RBOB is the basic building block for making reformulated gasoline sold in the Chicago area.
The price driver for world crude oils was gasoline in the US, with the RBOB at NYMEX on July 12 closing at a high of $3.