Crude oil price Fell after briefly touching 2009-high at 82. The benchmark contract ended the day at 81.77, up +0.3%.While abnormally cold weather in the Northern hemisphere may increase fuel demand, industry report which showed unexpected stock builds evidenced fundamentals remained weak.
Crude oil trades narrowly below Tuesday's close as investors await EIA's report for confirmation.
According to the industry-sponsored American Petroleum Institute (API), crude inventory drew -2.27 mmb in the week ended January 1.
However, both gasoline and distillate stockpiles rose.
Gasoline stockpile surged +5.6 mmb while distillate stockpile gained +0.962 mmb.
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