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Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
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Oct WTI crude oil this morning is up +42 cents (+0.44%) at a 2-week high and Oct gasoline is up +0.0071 (+0.27%). Oct crude and gasoline prices on Thursday closed higher with Oct crude at a 1-week high: CLV4 +0.67 (+0.71%), RBV4 +0.0003 (+0.01%). The main bullish factor for crude was the unexpected upward revision to U.S. Q2 GDP, which signals increased fuel demand and consumption. Gains were limited on bearish factors that included (1) a stronger dollar, and (2) the lack of disruption to gasoline output at the 405,000 bpd BP refinery in Whiting, Indiana because of a fire there Wednesday night.