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Crude gains 13 cents

Posted on: May 05, 2016

WTI had a choppy day on Wednesday, settling up 13 cents at $43.78. The EIA report showed a build in overall stocks that was higher than expected, as well as a build at Cushing. Refinery utilization was stronger while production decreased again.

WCS tightened a little bit yesterday as the wildfires in Fort McMurray have caused companies to move to essential staff only as everyone tries to support those that have been impacted as best they can. The reduced supply is helping WTI trade stronger this morning.


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