US crude oil futures settle at $53.78

Up $0.49 or 0.92%

The price of crude oil futures are settling the day at $53.78. That is up $0.49 or 0.92%.

The high for the day reached $54.50, while the low extended to $53.22.

The crude oil inventory data today showed a lesson expected build of 0.415M versus expectations of 3.2M. Gasoline stocks however so a drawdown of a bigger than expected -1.971M vs expectations of a small build of +0.2M.

The rise to the high came shortly after the inventory data. The price rotated back to the downside after stocks took their nose dive around midday..