Crude oil for August settled up $0.58 at $81.29. That's up $0.58 or 0.71%Today, EIA weekly inventory data showedCrude oil stocks had a drawdown of-2.547M versus expectations of a drawdown of -2.200 million barrelsGasoline stocks had a surprise drawdown of -2.280 million versus expectations of a build of 0.620 million barrelsDistilates showed a surprise drawdown of -1.726 million versus expectations of a build of 0.261 billion barrelsTechnically the price has now been up 4 the last 5 trading days (with only a small -$0.15 fall on Wednesday). During the run higher, the price moved and closed above the 100/200 day MAs on Monday. THose MAs come in at $79.58 and $79.37. The price is also above
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