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Rich Asplund

Crude Prices Soar as U.S. Inventories Tighten

Oil EIA United States Vortexa

November WTI crude oil (CLX23) this morning is up +3.17 (+3.51%), and Nov RBOB gasoline (RBX23) is up +5.14 (+2.04%).

Nov WTI crude oil and gasoline prices this morning are sharply higher, with crude climbing to a 13-month high. Crude prices continue to push higher on concern that global oil supplies will remain tight for the foreseeable future. Crude prices extended their gains after this morning's weekly EIA report showed EIA crude inventories fell to a 9-month low and crude supplies at Cushing, the delivery point of WTI futures, dropped to a 14-month low.

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