December WTI crude oil is down, while RBOB gasoline is up. Crude prices fell after EIA reports of increased crude supplies. A stronger dollar index is bearish for energy prices. Gasoline found support as EIA inventories dropped to an 11-year low. Positive global economic news supports energy demand and crude prices.

Strong economic data boosts energy demand. US Oct ADP employment change and ISM services index beat expectations. Eurozone composite PMI at a 2.5-year high. German factory orders rise. Crude crack spread at a 2.5-month high supports crude prices. Potential US military strikes on Venezuela also boost oil prices.

OPEC+ to raise production by 137,000 bpd in December, halting hikes in Q1-2026 due to global oil surplus. IEA forecasts a record 4.0 million bpd surplus in 2026. OPEC+ aims to restore 2.2 million bpd cut in 2024. Reduced crude exports from Russia support oil prices. Ukraine targets Russian refineries, curbing exports.

US oil rigs decline by 6 to 414 rigs, above 4-year low. Crude oil stored on tankers falls by 11%. EIA report shows mixed inventory levels. Crude inventories rise, while gasoline and distillate stockpiles fall. US crude oil production at record high. US and EU sanctions curb Russian oil exports.

Read more at Yahoo Finance: Crude Prices Falter after Weekly EIA Inventories Unexpectedly Rise