There will be no commentary for August 12th.

Oil prices traded up today, after initially tanking earlier in the session as the White House announced they were calling on OPEC and its partners to boost production.

Oil prices came back today, rebounding from recent losses on signs of rising fuel demand. U.S. job growth and increasing mobility have boosted gasoline consumption so far in 2021

a stronger dollar theme is (also) starting to emerge given the recovery story in the United States and that might be a short-term drag for crude prices

“Yesterday it was really all about concerns about the Delta variant, and then today there were worries that maybe we overdid it,

Oil prices continued to trade down today on a surprise build in crude inventories and Covid-19 concerns. US crude oil inventories rose by 3.6MM/bbls, vs a forecasted draw of -3MM/bbls.

Oil continued to trade down today on concerns over the Delta variant. China is having its worst surge since the first days of the pandemic and has responded in part by banning certain travel

This round of infections could potentially wipe out 5% of the short-term oil demand” and the continuing impact on consumption will depend on infection rates and the duration of the resurgence

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Oil prices rose today, buoyed by a bullish EIA report that showed a drop in inventories across the board