The price of WTI crude oil futures are settling at $77.85. That is up $0.86 or 1.12%.
The inventory data showed crude oil stocks declined by -2144K versus the private estimate of -6432K and other estimates of -3283K. Gasoline inventories showed a huge increase of 10128K vs 1775K estimate.
Technically, the price high today reached the highest level since November 25. The high price today reached $78.56. Looking at the daily chart, the 100 day moving average was tested on Monday and closed higher. Both yesterday and today the price has continued the move to the upside.