- Futures are up 1% to $58.57/bbl following a partial shutdown of the Keystone XL pipeline and ahead of a likely output cut extension next week by OPEC and a group of other producers.
- In a sign of a tightening market, both WTI and Brent benchmarks are in backwardation, where spot prices are higher than those for future delivery, which makes it unattractive for traders to store oil for later sale.
- ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, WTIU, OILX, WTID, USOI