crude oil up $.80 or 1.5% on the day

The price of crude oil futures are settling the day at $53.90. That is up $.80 or 1.5%. Today the governments inventory data showed a larger than expected build in inventories. The report did not have that great of an impact as prices continued to chop higher, reaching a peak of $54.60 (the price was at $54.20 at the time of the release).

After peaking, the price has chopped lower with a post inventory release price of $53.79 reached just before the day's close.

Crude oil price action today