Crude oil inventories showed a surprise 5.654M barrel build in the current week. That was higher than the -3.25M expected draw and even higher than the 2.0M build from the private estimate released near the close of trading yesterday.
The high price today reached $41.08. The low price reached $40.30.
Looking at the daily chart below, the price high got close to the 50% retracement of the move down since the January high for the August contract. That level comes in at $41.25 the high price was within $0.17 above that level. Get above is more bullish from a technical perspective.
Brent crude oil futures settle at $43.29 up $0.21 or 0.49%