Front-month crude on NYMEX settled at an all-time high of $90.46/barrel
for a gain of $3.36/b Thursday as the energy sector continued to soar in the
wake of Wednesday's Energy Information weekly US oil data report.

The EIA reported a 5.3 million barrel draw in crude stocks as imports
plummeted to 9.1 million b/d. While US commercial crude stocks still maintain
a surplus against the five-year average, that overhang has eroded by 20.4
million barrels in the past three months. In addition, stocks at Cushing,
Oklahoma--home of the NYMEX delivery point--edged down 200,000 barrels to 18.2
million barrels. But in essence, stocks in that region have been unchanged for
the past six weeks as the backwardation in the futures market discourages
stock-building.

December/January settled at plus $1.22/b after settling the previous
session at plus 97 cents.

A floor source said that both non-commercials, which are primarily
comprised of hedge funds and commercials, which are composed of oil companies,
banks, and refiners were on the buy side, leaving a selling vacuum.

Front-month heating oil settled at an all-time high of $2.4084/gal, for a
gain of 6.64 cents on the session.

November RBOB settled 8.83 cents higher at $2.2358/gal, with gasoline one
of the tightest segments on the complex. Gasoline stocks fell 2 million
barrels the week ending October 19 and, at 193.8 million barrels, were 13.6
million barrels below year-ago levels and 5.1 million barrels below the
five-year average, EIA reported on Wednesday.

"Although geopolitical concerns mainly related to the Turkey/Kurdish
issues and increasing rhetoric between the US and Iran were widely mentioned
as driving forces behind today's upside extension, we would continue to
suggest that yesterday's report provided an underpinning for another major leg
that will need only minor supportive headlines to be sustained," energy
consultant Jim Ritterbusch said in a report.

--Linda Rafield, linda_rafield@platts.com