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Barchart
Barchart
Rich Asplund

Crude Prices Falter after Weekly EIA Inventories Unexpectedly Rise

EIA Oil United States OPEC Russia

December WTI crude oil (CLZ25) today is down -0.39 (-0.64%), and December RBOB gasoline (RBZ25) is up +0.0023 (+0.12%).

Crude oil and gasoline prices gave up an early advance today and are mixed.  Crude prices retreated today after weekly EIA crude supplies unexpectedly increased.  Also, today's rally in the dollar index (DXY00) to a 5.25-month high is bearish for energy prices.  Gasoline found support today after EIA gasoline inventories tumbled to an 11-year low.  Also, today's better-than-expected global economic news is supportive of energy demand and crude prices.

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