Brent oil continued its recent volatility last night as the US dollar stabilised on inflation data, falling almost 2% to $55 as I write.
The news flow was also fairly bearish with Saudi again a negative for the market with new figures showing output is pumping around 10 million barrels of crude per day, close to an all-time high and 350,000 bpd above February output.
As well, Bloomie does another of it sexy videos exploring the possibility of US oil storage being exhausted: