Oil prices gained today continuing yesterdays rally on a  positive EIA report as inventories fell by 10.6MM/bbls, exceeding expectations. Analysts had forecasted a drop of 3.3MM/bbls. Meanwhile product supplied for gasoline was at about 9.1MM/bpd. Analysts are advising caution on these demand numbers however. “I would expect (gasoline demand) to fall precipitously from here,” said John Kilduff, a partner at Again Capital, as gasoline demand typically peaks in the summer driving season. WTI traded up $.47 to close at $81.63. Brent traded up $.33 to close at $85.21.

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aar
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