Oil prices rose today to four month highs on a surprise draw in crude inventories and gasoline stocks. Crude stocks fell by 1.5MM/bbls last week, larger than the 1.3MM/bbls forcasted. Gasoline inventories fell by 5.7MM/bbls sending futures prices to their highest price since September 2023. “Gasoline is driving us today. There is growing concerns about growing tightness with a combination of seasonal maintenance and other outages,” said Phil Flynn, an analyst at Price Futures Group. That increase in gasoline prices boosted the gasoline and 321 crack spreads. In Russia, Ukraine struck oil refineries in a second day of heavy drone attacks, causing a fire at Rosneft’s biggest refinery in what Russian President Vladimir Putin said was an attempt to disrupt his country’s presidential election this week. WTI traded up $2.16 or 2.8% to close at $79.72. Brent traded up $2.11 or 2.6% to close at $84.03.