We begin with the energy markets where crude oil futures rose sharply in response to the first US inventory draw in weeks. Brent was up over 8% in two days, rising above $47/bbl.
US gasoline futures rose 5% on Wednesday.
The inventory declines driving this rally took place at the Gulf Coast storage facilities. Oil in storage at Cushing, OK (the settlement hub for WTI futures), however, hit a new record.
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