- WTI is trading near a four-week high as EIA reported a large inventory draw
- The EIA reported a draw of 4.7-MMBbls in crude inventories
- According to Reuters, the large draw can be attributed in part to year-end tax considerations, which dents imports, and strong refinery runs in the U.S. Gulf Coast
- Gasoline stocks rose by a build of 5.5-MMBbl build, compared with expectations of a 467-MBbl build
- Gasoline price, NYMEX Gasoline crack is up on reports of an explosion at ExxonMobil Baytown refinery
- The refinery is the nation’s fourth-largest, with capacity of 560 MBbl/d
- Production was reduced across the Baytown refining and petrochemical complex in August 2019 because of a fire in a propylene recovery unit at the olefins plant
- The NYMEX gasoline crack is up 5.6%, to $19.343