WTI for January delivery rose $2.15 to settle at $73.17 per barrel in New York. Brent for February settlement rose $1.89 to settle at $77.99 per barrel. Market participants were in the buy mode today to buy oil at the lowest price this year, as markets digested the fact that a key North American crude pipeline remains shut with no timeline for reopening. TC Energy Corporation is continuing recovery efforts at its shuttered Keystone pipeline. A date for a restart hasn’t yet been set. Rail cars are beginning to come out of storage to compensate as crude is backing up into Canada and looking for a home as inventory levels north of the border swell. Refined products also recovered this morning, with gasoline futures rising 1.2% after touching a new low for the year overnight.

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