The U.S. Energy Department's weekly inventory release showed that crude stockpiles recorded their smallest build this year. The report further revealed that within the ‘refined products’ category, gasoline stocks fell, while distillate supplies were up from the week-ago level.
Following the bullish data from the U.S. government, West Texas Intermediate (WTI) crude futures surged above $56 per barrel Wednesday, the highest in 2015. This also prompted investors to put their money back into oil and related support plays. As a result, market heavyweights like Range Resources Corp. RRC, Transocean Ltd. RIG, Exxon Mobil Corp. XOM, Royal Dutch plc RDS.A, Chevron Corp. CVX and ConocoPhillips COP all gained handsomely in yesterday’s trading.
wait xom and get it on the cheap