Inventories normally build in the fall as refiners have extra stock from the summer but refiners kept inventories low this summer anticipating low demand. Today's EIA inventory report shows draws for crude, gasoline and diistiilate and that led to big increases in price. Automatic Data Processing published a report that private sector payrolls were up 91,000 jobs in September. ADP is more reliable than the government statistics that are always being revised upward after the initial release.
Today, WTI +$4.01, $79.68; Brent +$2.50, $102.37; RBOB +8.08¢, $2.5692; +5.32¢, $2.7766.
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