Oil prices were higher today trading up after a jump in US refinery activity last week drove a larger than expected decline in gasoline and crude inventories. Crude inventories fell by 3.4MM/bbls vs a forecasted decline of 1.3MM/bbls. Gasoline stocks fell by 2MM/bbls compared to a 600K/bbl expected draw. Geopolitical risk did little to move prices, analysts said, with investors somewhat fatigued over discussions about a ceasefire in Gaza and the war in Ukraine, said Tim Snyder, economist at Matador Economics. “We see news stories out there that are having little impact on the market, which means the market is discounting those,” he added. Oil and gas companies restarted some operations on Tuesday. On Wednesday morning, the Port of Houston said it had returned to normal start times for operations at its eight public terminals. Refineries and offshore production facilities saw limited storm damage and have largely returned to normal operations, easing concerns of a supply disruption. WTI traded up $.69 or .85% to close at $82.10. Brent traded up $.42 or .5% to close at $85.08.