WTI Will Close Above $98 After EIA Draw

WTI will close above $98 on October 16 as price momentum pushes through resistance and squeezes shorts. On October 15 WTI jumped $2.88, or 3.03%, to settle at $97.97 a barrel, and the EIA reported commercial crude inventories fell by 8.6 million barrels to 415.6 million barrels in the week ending O…