October WTI crude oil (CLV26) closed down -3.40 (-3.21%) on Wednesday, and October RBOB gasoline (RBV26) closed up +0.0198 (+0.57%).
Crude oil and gasoline prices settled mixed on Wednesday, with gasoline climbing to a 3-week nearest-futures high. Crude prices fell sharply on Wednesday as signs emerged that more crude supplies are reaching the market, easing supply concerns. Losses in crude accelerated on Wednesday after weekly EIA crude inventories fell less than expected and gasoline and distillate supplies rose more than expected. Also, Wednesday’s rally in the dollar index ($DXY) to a 1.5-month high undercut energy prices.
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