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Barchart

Rich Asplund

Crude Settles Higher as EIA Gasoline and Distillate Inventories Fall

EIA Oil United States OPEC

December WTI crude oil (CLZ24) Thursday closed up +0.27 (+0.39%), and December RBOB gasoline (RBZ24) closed up +0.0166 (+0.84%).

Crude oil and gasoline prices on Thursday posted moderate gains after weekly EIA gasoline and distillate supplies unexpectedly declined, a sign of stronger fuel demand. Gains in crude were limited after the dollar index (DXY00) rallied to a 1-year high and after the IEA forecast a global oil surplus next year.

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