Oil prices continue to move higher - US supply issues, China reopening optimism cited

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Oil prices continue to move higher - US supply issues, China reopening optimism cited

<p>Brent and WTI both higher. </p><p>The gains are being attributed to:</p><p>1. the closure of the Keystone Pipeline, which ships about 620,000 barrels-per-day of Canadian crude from Alberta to the United States</p><p>Says Reuters:</p><ul><li>Keystone has remained shut since a 14,000-barrel leak in the U.S. state of Kansas reported on Dec. 7</li><li>TC Energy has not released a timeline for a restart of the line</li></ul><p>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. </p><p>---</p><p>Update:</p>

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Oil prices continue to move higher - US supply issues, China reopening optimism cited

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