NYMEX October crude settled $1.41 higher at $95.96/barrel Friday amid still-strong fundamentals and a repricing-in of geopolitical risk. ICE October Brent lagged slightly, setting 73 cents higher at $103.19/b. Products finished in positive territory as well, led by NYMEX September RBOB, which settled 3 cents higher at $2.7827/gal. September ULSD closed 79 points higher at $2.8569/gal. “Fundamentals here are very strong, as US inventories continue to decline,” Citi Futures Perspectives energy analyst Tim Evans said. “Runs look very strong, and have held up the downtrend in total stocks. And this has persisted longer than many had anticipated.” US commercial crude stocks have fallen steadily over the summer amid record refinery runs, and despite expectations that fall maintenance is coming soon, still-high runs represents real crude demand. “There was talk a month ago about runs having peaked, but that hasn’t happened so quickly,” Evans said. Total US crude runs did […]