Energy Prices Firmed on Decline in Gasoline Inventory

Crude oil prices remained firm as driven by strong risk appetite. Traders shrugged off a huge increase in US crude inventory, and focused on the decline in gasoline stockpile. The front-month WTI contract rose for a third consecutive day, to 35.17, the highest level since January 6, before settling at 34.66, up +0.76. The Brent contract also rose to a 2-month high of 37.4 initially before ending the day at 36.93, up +0.33%.