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Barchart

Rich Asplund

Crude Finishes Higher on Smaller EIA Inventories and Hurricane Francine

EIA Oil Hurricane Hurricane Francine United States

Oct WTI crude oil (CLV24) Wednesday closed up +1.56 (+2.37%), and Oct RBOB gasoline (RBV24) closed up +2.72 (+1.45%).

Crude oil and gasoline prices Wednesday settled sharply higher. Crude found support Wednesday from a smaller-than-expected build in weekly EIA crude inventories. Also, Hurricane Francine made landfall on Wednesday in Louisiana, with six major US refineries its path. Crude was undercut by Wednesday's rally in the dollar index to a 1-week high.

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