The Fed and the Commerce Dept. both touted a growing economy today and that was enough to overcome an inventory build 4X greater than expected as crude rose 0.5% today. It was a healthy increase of 8.7% for the month despite market trends that should make traders more cautious. The build is likely related to deteriorating demand but more attention was paid to Federal Government reports.
For the month, WTI+$8.59, $107.07; Brent+$11.93, $122.93; RBOB+15.49¢, $3.0423; HO+12.52¢, $3.188.
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