Current /CL:NMX Stock Info

Prices jump over $2.50 on inventory drop

Oil prices today closed at $47.13, up $2.54, or 5.7% higher than where they started the day. The spike in prices is a bit of welcome news for the industry, which has been learning to live with oil prices at less than half their peak levels just over a year ago.

Inventories saw a surprise draw today, with the Department of Energy reporting 2.1 million fewer barrels in storage for the week ended September 11, than the week before. Economists had expected inventories to build by 1.8 million barrels during that time period.

Legal Notice