Demand worries overshadowed a drop in crude stocks after the Energy Information Administration (EIA) seemed to suggest refiners going into maintenance and a weakening demand for gasoline helped send the market higher.
Crude oil prices are fighting exceptional strength in the dollar as fears about a Greece default rise, and a hotter than expected core CPI number that seems to be taking precedent over falling U.S. rig counts that fell for a historic 24 weeks in a row.
Continental Europe will probably be warmer than average for a third month in February as the milder counterpart of the polar vortex that gripped North America helps to extend a decline in power and gas prices.
Mixed messages sent oil products higher, but oil continues to be grounded by an ever growing U.S. supply. While crude supply only increased by 40,000 barrels, overall supply at Cushing Oklahoma increased to a whopping 39.9 million barrels.