Brent oil managed a 1% rebound last night to $50.23 as I write as good news vied with bad but a big fall in the US dollar proved decisive. The good news came in the form of US production which fell away 0.7% in the weekly report:
Inventories fell as well:
Also good was the EIA update to refinery runs which are booming as US consumers embrace driverama, from John Kemp:
Advertisement