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Rich Asplund

Crude Prices Jump as Weekly EIA Inventories Unexpectedly Decline

Oil EIA Donald Trump United States OPEC China Hamas

May WTI crude oil (CLK25) today is up +0.97 (+1.41%), and May RBOB gasoline (RBK25) is up +0.0293 (+1.32%).

Crude oil prices today rallied to 3-week highs and are moderately higher. Crude has carryover support from Monday when President Trump announced a 25% secondary tariff on countries that purchase oil or gas from Venezuela, effective April 2. Gains in crude accelerated today after weekly EIA crude inventories unexpectedly declined.

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