Crude oil futures have back-to-back +3% gains

Closes t $72.76/BBL, up $2.23 or 3.16%

Yesterday, the price of crude oil settled up 3.6%. Today, it tacked on another 3.16% gain.

The price today settles at $72.76. The high reached $73.06 and in the process, moved above the 2018 high at $72.83. The low reached $70.56 earlier in the day.

Today, there was a huge -9891K drawdown of crude oil inventories. The increased demand and OPEC+ disappointment from last week are the main catalysts.