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Barchart
Rich Asplund

Crude Prices Finish Higher After Weekly EIA Inventories Decline

Oil EIA OPEC United States

June WTI crude oil (CLM24) on Wednesday closed up +0.61 (+0.78%), and June RBOB gasoline (RBM24) closed down -1.16 (-0.462%).

Crude oil and gasoline prices Wednesday settled mixed, with gasoline falling to a 2-month low.  A stronger dollar on Wednesday was negative for energy prices.  Also, a rebound in Russian crude production adds supplies to the global market and is bearish for prices.  Crude recovered its losses and moved higher after the bullish weekly EIA crude inventory report.

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