September WTI crude oil (CLU25) on Wednesday closed down -0.06 (-0.09%), and September RBOB gasoline (RBU25) closed up +0.0187 (+0.90%).
Crude oil and gasoline prices settled mixed on Wednesday. A build in crude supplies at Cushing, the delivery point for WTI futures, for a third consecutive week, undercut oil prices. Losses in crude were contained, and gasoline prices rose after weekly EIA crude inventories and gasoline supplies fell more than expected. Also, Wednesday's decline in the dollar index (DXY00) to a 2-week low was supportive of energy prices. Additionally, the action by the US and Japan to agree on a trade agreement eases trade concerns and supports energy demand.
