Oil prices were higher today despite a build in crude inventories. Crude inventories rose 1.2MM/bbls vs a forecasted rise of 457K/ bbls. A widening discount of WTI to Brent contributed to a jump in U.S. crude exports last week to record high at 5.6 million barrels per day, which resulted in a smaller build than in previous weeks. “Until this supply overhang is able to narrow amidst some decline in Cushing, US crude supply trends could further limit additional price upside,” said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois. Cushing, Oklahoma is the hub for U.S. crude storage. WTI traded up $.64 or .8% to close at $77.69. Brent traded up $.86 or 1% to close at $84.31.