Both crude oil benchmarks are now trading above US$50/bbl, thanks to abrupt supply disruption. The front-month WTI crude oil climbed to a new 2016-high of 50.53 before ending the day at 50.36, up +1.35%, while the Brent contract rose to as high as 51.54 before settling at 51.44, up +1.76%. Fuel prices were mixed with heating oil gaining +2.56% while RBOB gasoline dipping -0.1% for the day. Crude oil stays firm today as supported by a report showing decline in US inventory last week.
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