The crude oil markets continues to remain robust as gasoline prices rise and draw global demand. Last week's solid inventory report, helped bolster petroleum prices.In a report on Wednesday of last week, the Department of Energy reported that U.S. commercial crude oil inventories decreased by 2.3 million barrels from the previous week.

Analyst had expected crude oil investor's to build. Total motor gasoline inventories decreased by 1.6 million barrels last week and are in the lower limit of the average range. The combination of high demand and low supply is driving the gasoline markets higher. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 2.5 million barrels last week.

Gasoline stocks are now at the bottom end of the 5-year range and have broken out to the upside. Look for crude oil to follow., as the US move into the driving season which begin on Memorial Day.

In addition, issues related to the Middle East continue to remain in the headlines, which are keeping crude prices elevated, as traders are worried that there could be a supply disruption is unrest spread to countries such as Saudi Arabia.

Crude oil tested the 113-resistance level but failed to break through. A break of this level would target the 115.00 weekly resistance. Support is seen near the 20-day moving average near 108, and then again at 106.00.