On Thursday, crude oil continued its rally and rose to a fresh five-week high for a fifth straight session as U.S. gross domestic product and weekly jobless claims reports beat expectations and weighted on price. Light crude gained 0.19% and hit its intraday high of $97.99 per barrel.

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On Wednesday, crude oil rose to a fresh five-week high for a fourth straight session of gains after the EIA data showed that refiners boosted operations sharply last week, reducing inventories for the first time since mid-September.

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On Tuesday, crude oil rose to a five-week high for a third straight session of gains on news that a new pipeline would begin carrying crude oil to Texas refineries next month, helping reduce domestic crude stockpiles. The speculation that the EIA weekly data will show the first drop in U.S. inventories since September fueled the price also fueled the price of light crude.

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On Monday, crude oil gained 1.26% as stronger-than-expected manufacturing data across the globe bolstered hopes of increasing crude demand. This is light crude’s biggest one-day gain since Nov. 21. In this way, crude oil climbed to an intraday high of $94.08 and closed the day slightly below this level.

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On Friday, crude oil gained 0.45% and climbed to its daily high of S$93.90. Despite this increase, light crude gave up the gains and declined in the following hours below $93.

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