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Rich Asplund

UNCOVERED: Crude prices slip after eia inventories climb more than expected - Caught on Camera

Oil EIA OPEC United States Drone Russia Vortexa

April WTI crude oil (CLJ24) on Wednesday closed down -0.33 (-0.42%), and Apr RBOB gasoline (RBJ24) closed down -4.32 (-1.67%).

Crude oil and gasoline prices on Wednesday gave up an early advance and moved lower, with crude falling from a 3-1/2 month high on a bearish weekly EIA inventory report. Also, Wednesday's rally in the dollar index (DXY00) to a 1-week high weighed on energy prices. Crude prices Wednesday initially moved higher due to ongoing tensions in the Middle East and expectations that OPEC+ next week will decide to extend roughly 2 million bpd of crude production cuts beyond March.

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