- WTI crude oil shot up to as high as $49.50 per barrel following larger-than-expected inventory draws first reported by the API last night, and then confirmed by the EIA this morning.
- It's dropped about $1 in the last few minutes though, as the EIA data also showed a build in gasoline inventories of 3.06M barrels (vs. an expected 1.5M barrel draw).
- Texas tea is currently higher by 0.4% on the session at $48.80 per barrel. USO +0.1%, UGA -0.45%
- ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM