The Daily Shot

By SoberLook

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.

Source: @barchart

US gasoline futures rose 5% on Wednesday.

Source: @barchart

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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