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Rich Asplund

Crude Prices Close Lower as Weekly EIA Inventories Unexpectedly Climb

Oil EIA United States OPEC IEA Iran

October WTI crude oil (CLV23) on Wednesday closed down -0.32 (-0.36%), and Oct RBOB gasoline (RBV23) closed up +1.05 (+0.38%).

Crude oil and gasoline prices on Wednesday settled mixed. Crude fell from a 10-month high Wednesday and closed lower on a bearish weekly EIA inventory report. Crude prices Wednesday initially moved higher and posted a 10-month high on carryover support from Tuesday when OPEC projected global oil inventories would fall to a 10-year low.

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