Brent and WTI both higher.
The gains are being attributed to:
1. the closure of the Keystone Pipeline, which ships about 620,000 barrels-per-day of Canadian crude from Alberta to the United States
Says Reuters:
- Keystone has remained shut since a 14,000-barrel leak in the U.S. state of Kansas reported on Dec. 7
- TC Energy has not released a timeline for a restart of the line
and 2. Analysts from Bank of America expect that a successful economic reopening in China from its COVID-19 restrictions, combined with a dovish pivot by the U.S. Federal Reserve on its interest rate increases, could boost fuel demand and propel Brent oil prices above $90 a barrel.
---
Update:
