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Apr WTI crude oil this morning is down -77 cents (-1.51%) and Apr gasoline is up +0.0010 (+0.05%). Apr crude and Apr gasoline prices on Wednesday closed higher: CLJ5 +1.71 (+3.47%), RBJ5 +0.1026 (+5.63%). Apr crude recovered from a 3-week low and Apr gasoline posted a 2-1/2 month high on bullish factors that included (1) the weaker dollar, (2) the -3.1 million bbl decline in weekly EIA gasoline supplies, more than expectations of a -2.0 million bbl draw, and (3) the -2.7 million bbl drop in weekly EIA distillate inventories to a 2-month low of 124.7 million bbl. Bearish factors included (1) the +8.4 million bbl increase in weekly EIA crude inventories to a record 434.1 million bbl (EIA data since 1982), more than double expectations of a +4.0 million bbl build, and (2) the +2.4 million bbl increase in crude supplies at Cushing, OK, the delivery point of WTI futures, to a 1-1/2 year high of 48.68 million bbl.