- Signs of robust US oil demand helped WTI prices higher Thursday morning
- US crude and fuel stockpiles saw large declines last week, a signal that peak summer demand remains robust despite a resurgence of Covid-19 (Bloomberg)
- Oil inventories slipped more than expected last week to the lowest level since January 2020
- Distillate stocks dropped the most since April, according to government data
- The US Senate nears a possible deal on infrastructure (Reuters)
- Lawmakers will begin debate on a roughly $1.2 trillion infrastructure bill after weeks of negotiations
- The legislative momentum could clear the way for more action on the bipartisan bill and a $3.5 trillion budget package centered on Democratic priorities such as clean energy tax credits, a clean electricity standard, and raising corporate tax rates, according to Argus