Oil Prices Climb Higher on Inventory Draw

Oil prices remained firm with refined oil products leading the gains. After strengthening over the past 2 consecutive weeks, heating oil and RBOB gasoline prices have shown no signs of fatigue. The latest driver came from API's report showing huge inventory draws. The front-month Nymex heating oil and RBOB gasoline contract soared +1.925 and +2.2% respectively.

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Oil Prices Climb Higher on Inventory Draw