Weekly EIA data showed US crude inventories fell 865K barrels versus an expected 877K build; gasoline and distillates also fell. WTI slipped $2.08 to $93.99.
Data from the API late yesterday:
The dominant topic today is Trump and the war with Iran. One line of thinking is that he will lay the Iran war at the feet of his advisors or other people and try to end it. During the post-election analysis, the loss is being attributed by all sides to an unpopular war and rising gasoline prices. Trump, on the other hand, could decide to press ahead with escalation and go all out to defeat Iran, with an eye toward securing his legacy.
At last check, WTI crude was down $2.08, trading at $93.99 per barrel.
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