RBOB breaking out into up channel
We are now well into the driving season with additional incentive moving the crack margins upwards: namely the loss of the Philadelphia PES Refinery -ve 335 kbbl capacity and no obvious solution to the shipping risk in the Straits of Hormuz. RBOB has been very responsive to a simple channel moves for many months. There is no need to over complicate RBOB. It's a straight buy.
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