The oil market was bullish today on the back of Biden\u2019s inauguration as the new administration plans to increase stimulus and enact policy to tighten crude supply. Both things should be very positive for oil prices. “I think the Biden administration on day one is making it clear that there’s a new sheriff in town and we’re going to go back to policies that are pro-green energy and anti-fossil fuels,” said Phil Flynn, senior analyst at Price Futures Group in Chicago. “It’s going to mean higher prices and the market is starting to price in that reality. Treasury Sec Nominee Yellen also reiterated her calls for more stimulus today saying we must \u201cact big\u201d. These comments of course had a negative effect on the dollar, which is also bullish for crude prices. WTI traded up $0.33 or 0.62% to close at $53.31. Brent traded up $0.18 or 0.32% to close at $56.08.<\/p>\n\n\n\n