Oil prices rose today as the USD moved to one month lows and 1.7MM/bpd of Gulf production remains shut in.

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If refiners recover capacity in two to four weeks, then we should be OK. Beyond that, we will be driving inventory levels very low and prices may start to react meaningfully highe

Oil products, like gasoline and diesel, are likely to see prices rise more acutely from refinery outages especially if there are difficulties in bringing refineries and pipelines back online

Hurricane Ida is now forecasted to make landfall as a category 4, a major storm. More than 1MM/bpd of offshore gulf production (59%) has already been taken offline.

There is a storm brewing in the Gulf that has all of the characteristics to potentially turn into a megastorm

“While volatility looks set to continue, we see further gains for oil as global economic normalization continues and OPEC remains disciplined on crude supplies

Oil prices continued to rise today, buoyed by yesterday’s FDA approval of the Pfizer vaccine and the hopes for more demand improvement

Well folks Oil prices rose more than five per cent on Monday on the back of a weaker U.S. dollar and strong global equities markets boosted crude futures after seven days of declines