Crude oil is seeing good recovery on Thursday as a drop in crude and gasoline inventories as reported by EIA showed improving demand for the commodity. U.S. crude oil stockpiles fell by 4.5 million barrels last week, against expectations of a 1 million-barrel drop, while U.S. gasoline demand rebounded by 8.5% week on week, according to data from the Energy Information Administration. WTI crude oil futures are trading up 1.44% at $98.66 per barrel following a surge of more than 2% in the previous session. Meanwhile, continued supply concerns amid cuts in Russian gas flows to Europe also contributed to gains in the commodity. Powered by Commodity Insights
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