Draw in Distillate Inventory Upstaged Crude and Gasoline Stock-builds

Oil prices rallied despite surprising increases in crude and gasoline inventories last week. Investors were instead thrilled by the huge draw in distillate stocks. The front-month contract for WTI crude oil price rose to a 2-week high 101.63 before settling at 101.32, up +1.74%. Price continued to climb further today. Fuel prices also jumped with heating oil touching 3.00 for the first time in 2 weeks after gaining +4.78% over the past 2 days.

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Draw in Distillate Inventory Upstaged Crude and Gasoline Stock-builds