WTI crude bounced back to $41.39 from $39.24 per barrel following reports of falling gasoline inventories. The RBOB gasoline stockpiles decreased by 3.3 million barrels, far below the anticipated decline of 200,000 equivalent barrels of energy. Although the EIA report detailed rising crude oil stockpiles in the latest reading, crude oil shook off this development, rallying back above $40.00 per barrel overnight and currently trending near $41.11, breaking a ten day bearish skid.
Global Markets Hold as BoE Conducts ‘Super Thursday”
Daily Analysis - 04/08/2016