- Black gold shot higher on an unexpected draw on U.S. inventories last week, but has turned and slipped back under $28 per barrel.
- WTI crude is currently down 0.2% to $27.78
- Also among the news to digest is a surprisingly upbeat Janet Yellen testifying before Congress - while acknowledging downside risks to the outlook, she continues to expect rate hikes this year.
- Then there's BP CEO Bob Dudley who says the market won't start to balance until every tanker and swimming pool is filled to the brim with oil (sometime in H2, he says).
- ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM