Crude remained firm as news suggested that Saudi Arabia prefers higher oil prices. The rally was, however, capped on profit-taking and huge increase in fuel inventories. The Nymex heating oil and RBOB gasoline contracts also gained +0.79% and +1.56% respectively. The front-month WTI crude oil extended gains for a 4th day, adding +1.84% and settling at 46.58.
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Energy’s Rally Capped by Soaring Gasoline and Distillate Stockpiles
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