The high price for the day reached $42.90. The low price extended to $41.53.
The weekly oil inventory data was released with crude oil inventories falling by -4512K vs. -2200K estimate. The decline comes after a -7373K fall last week. Gasoline inventories fell -722K vs. -400K estimate.
Looking at the daily chart, the price is closing above the 50% retracement at $41.71. The 200 day moving average above is currently at $43.64. The price has not traded above that moving average since February 20.
The October contract settle that $42.95 up $1.08 or 2.58%
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