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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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Sep WTI crude oil this morning is down -0.36 (-0.35%) and Sep gasoline is down -0.0061 (-0.21%). Aug crude and gasoline prices on Wednesday closed mixed: CLU4 +0.62 (+0.61%), RBU4 -0.0078 (-0.27%). Crude oil saw some support from the weekly EIA report, which showed a sharp -3.97 million bbl drop in U.S. crude oil inventories and a -1.45 million bbl drop in Cushing crude oil inventories. Meanwhile, gasoline was undercut by the EIA’s report of a sharp +3.38 million rise in gasoline inventories.