Crude Continues to Rise Despite Record Stocks as Demand Moves Higher

Crude oil prices have moved higher over the past two weeks, as rig counts continue to decline.  This comes despite a huge build in crude oil inventories according to the latest estimate by the Department of Energy.  Crude oil stocks are now at their highest level on record, but that now appears to be baked into prices. Production in the U.S. has declined, but demand especially for gasoline…