Crude oil futures settle at $73.56

<p>The price of crude oil futures are settling at $73.56, down -$0.33 or -0.45%.</p><p>The high price reached $74.95. The low price extended to $73.41.</p><p>For the trading week, crude is up for the second consecutive week. The price is up $1.81 or 2.53%. Last week the price rose $0.54 or 0.75%.</p><p>For the trading year, the price is down around -$6.92 or -8.60%.</p><p>This week, Angola announce that they were leaving OPEC+ due to disputes on production quotas. Angola's quota is about 1.1 million barrels or around 2% of OPEC+ output. </p><p>The weekly inventory data show that:</p><ul><li>Crude stocks had a build of 2.909 million versus estimates of a drawdown of -2.283 million</li><li>Gasoline stocks had a build of 2.710M vs estimates of a build of 1.233M</li><li>Distilates showed a build of 1.485M vs estimates of a build of 0.496M</li></ul>

This article was written by Greg Michalowski at

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