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Crude Oil Price Eyes EIA Report as Pipeline Shutdown, India Fog Outlook


Crude Oil Price Eyes EIA Report as Pipeline Shutdown, India Fog Outlook
2021-05-11 03:00:00
Thomas Westwater,
Analyst
Crude Oil, Colonial Pipeline, EIA inventory, Covid, India, Rising Wedge - Talking Points
Colonial Pipeline shutdown remains a question mark for crude oil
Big draw in EIA inventory print reflects US vaccination progress
Crude oil near the 65 handle within an Ascending Wedge pattern
Crude oil appears to be flatlining so far this week, with prices hovering just below the 65 mark. The lack of volatility in energy prices comes despite a major supply shock. Over the weekend, a major fuel pipeline, running from the Gulf Coast to the Atlantic Northeast, was shut down due to a ransomware attack. That has also forced the US government to declare a state of emergency across many east coast states. ....

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