Oil prices rose today after sinking for two days after data showed lower fuel inventories. Supporting prices earlier in the session was a statement from top U.S. pipeline operator Colonial Pipeline, which said its Line 3 had been shut for unscheduled maintenance with a restart expected for the products line on Jan. 7. Distillate inventories fell more than expected as the nation faced a big winter storm. Distillate inventories were down 1.4MM/bbls versus 396K bbls expected. Gasoline stocks also fell, granted less than forecasted, by 346K/bbls. “The impact of the storm during that time period is on full display here,” said John Kilduff, partner at Again Capital LLC in New York. WTI traded up $.83 or 1.2% to close at $73.67. Brent traded up $.85 or 1.1% to close at $78.69.

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