The oil complex is seeing a double whammy this morning from the reported restart of the Colonial pipeline and a major reduction in risk appetite that is spinning off an escalation of inflation worries that has spurred the plunge in the stock market,

The export (drop) is the bullish element keeping trade propped up,” Tony Headrick, energy market analyst at CHS Hedging, said, noting the crude stock “drawdown combined with the lack of exports is good sign

Oil prices were mostly flat today, initially trading down earlier in the session but trading back up later in the day. All eyes are on the Colonial Pipeline and its efforts to restart

Oil prices traded up today with Brent settling at $68.28 and WTI settling at $64.9 both up 19 cents. The recovery in oil demand has been uneven due to the surging COVID-19 cases in India reducing fuel consumption in the world’s third-largest importer and consumer of oil. “Brent came within a whisker of breaking past […]

“The record numbers of new infections in India have been making the headlines and fueling fears that demand may recover more slowly,

Refinery runs are only likely to move higher from here, and if we’re going to get runs over 15 MM/bpd and exports over 3MM/bpd we are going to consistently see draws going forward

Oil prices rallied today as more states begin the process of reopening. A weaker dollar, hit by an unexpected slowdown in U.S. manufacturing growth, also helped to shore up oil prices on Tuesday

Today was the biggest drop for the Brent and WTI contract in over 3 weeks, though prices were still on track for large monthly gains.

Oil prices continued to strengthen today on the back of yesterday’s bullish EIA report and a weakening dollar. The dollar was at or near 9 week lows today as the Fed remains dovish and the White House continues to roll out bold spending plans.

Oil prices rose today as bullish distillate inventory numbers are raising optimism of recovering fuel demand. Refining activity also picked up, with utilization increasing by .4% to 85.4%.