Previously Forecast News Today

Tight current supply, and a slower recovery in U.S. oil production are adding to the already bullish momentum in oil markets this week

Add to Bookmarks U.S. West Texas Intermediate and Brent crude oil futures are trading higher on Tuesday as traders shrugged off worries about the Colonial Pipeline shutdown while increasing bets it would open sooner than expected. The markets are also being supported by a report from the Energy Information Administration (EIA) showing that U.S. crude output would decline more than previously forecast in 2021. Later today at 20:30 GMT, traders will get the opportunity to react to the latest inve...