- Oil prices are higher in early trading to follow on yesterday's report by the U.S. Department of Energy showing a decrease in domestic crude production. WTI crude trades at $46.36 per barrel.
- "The market is coming into better balance and we maintain the view that the current oversupply will flip into undersupply in 2H," reads a fresh note from Jefferies.
- Some analysts think the recent gains in oil will be capped soon with a sustainable rise in OPEC production around the corner.
- ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM