After tumbling on trade talk doubts, WTI crude prices spiked back above $55 this afternoon after Russian Energy Minister Alexander Novak told reporters in Moscow that Russia is committed to complying with OPEC+ production-cut deal. Additionally, an OPEC+ committee said it expects stockpiles to decline sharply in the second half of the year. API • Crude -11.1mm (-2.25mm exp) - biggest draw since June • Cushing -2.4mm • Gasoline -0.3mm • Distillates -2.5mm After a brief period of small builds, Crude stocks have resumed their drawdowns, with API reporting a massive 11.1mm plunge in inventories. In fact, there were ... (full story)