The short sellers have come out to play big time in the last several days and Saudi Arabia’s energy minister is warning them to tread lightly.

The dollar index had some support today from cooling European inflation which was a drag on prices.

The big elephant in the room is the continued drama over the debt ceiling

Stay informed about oil prices, US debt ceiling talks, robust gasoline demand, & the upcoming OPEC+ meeting.

Oil prices settled lower today after the Russian Deputy Prime Minister played down the prospect of further OPEC+ production cuts

Oil prices rose 2% today after a large unexpected drawdown of Crude inventories. Crude inventories had a massive draw of 12.5MM/bbls.

Oil prices rose on Tuesday on forecasts for a tighter gasoline market and a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ output cuts.

Tensions with China are also on the rise as the PRC is upset with the G7 summit calling it an “anti-China workshop”.

Oil prices fell today as the Republicans and the White House paused talks on raising the debt ceiling.

Good news for the economy is now bad news for the crude demand outlook as economic resilience will force the Fed to kill the economy