Oil prices traded higher today settling at the highest level since October despite a jump in Crude inventories as investors remained concerned about supply disruptions. Crude inventories increased by 3.2MM/bbls last week versus a forecasted decline 1.5MM/bbls. “The EIA report went in the other direction on crude oil from what the API reported yesterday, so that has helped pause the rally a little bit,” said Bob Yawger, director of energy futures at Mizuho. Both contracts continue to hit five month highs in the last 3 consecutive sessions as Ukrainian attacks on Russian refineries continue to cut fuel supply there. WTI traded up $.28 or .3% to close at $85.43. Brent traded up $.43 or .5% to close at $89.35.

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swars
  • Where: Loews Arlington Hotel
  • Attending: Brian Baker (239.297.4519), David Cohen (954-729-4774), and Curtis Chandler (239-405-3365)
  • Conference Website
AARs
  • Where: The Westin Galleria Dallas
  • Attending: David Cohen (954-729-4774), and Curtis Chandler (239-405-3365)
  • Conference Website
sears
  • Where: The Westin Galleria Dallas
  • Attending: Brian Baker (239.297.4519)
  • Conference Website