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Rich Asplund

Crude Prices Settle Higher as Supplies Tighten

Oil EIA OPEC United States

October WTI crude oil (CLV25) on Wednesday closed up +0.90 (+1.42%), and October RBOB gasoline (RBV25) closed up +0.0135 (+0.69%).

Crude oil and gasoline prices recovered from early losses on Wednesday and settled higher as short covering emerged after the weekly EIA report showed that weekly crude inventories and oil supplies at Cushing fell. Crude oil prices initially moved lower on Wednesday due to a stronger dollar.

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