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Date Posted: 13:34:02 12/08/22 Thu
Author: Jasper
Subject: Hey Powell you need to pile on more of those oil derivatives. Drive that price lower.

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West Texas Intermediate erased earlier advances after climbing as much as 4.8% in New York, briefly surpassing $75. The Keystone oil pipeline, which can haul more than 600,000 barrels a day of crude from Canada into the US, was halted due to a leak into a creek. No timeline was given for its restart. Brent futures were lower.

In a market grappling scant participation heading into year end, news of the outage could lead to big moves in both directions, traders said.

“Oil markets are exhausting,” said Ed Moya, senior market analyst at Oanda Corp. “The focus is all over the world for oil markets as energy traders track developments across Turkey’s Bosphorus strait as 19 oil tankers await passage and over the Keystone Pipeline getting shut after a leak.”

https://finance.yahoo.com/news/oil-edges-higher-four-day-000145687.html

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