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Crude Oil Looking Beyond Short-Term Challenges Crude oil and natural gas have both been lagging some of the blistering pace of other commodities this past week. Oil continues to be torn between the uneven recovery in global fuel demand, especially due to continued virus flareups across Asia, writes Ole Hansen, Head of Commodity Strategy, Saxo Bank. Adding to this has been the disastrous hacking attack on the Colonial Pipeline which supplies 2.5 million barrels/day of fuel products from refineries in Texas to consumers along the US East coast. As a result the US national average retail gasoline prices have risen above $3 a gallon for the first time since 2014, but while fuel stations across the East and South have started to run out, some refineries have been forced to cut runs leading to lower demand for crude oil.

United statesOle hansenSaxo bankAmerican petroleum instituteFederal reserveTradearabia news serviceCommodity strategyColonial pipelineBloomberg commodity spotMarch brentTradearabia newsஒன்றுபட்டது மாநிலங்களில்ஓல் ஹேன்சன்அமெரிக்கன் பெட்ரோலியம் நிறுவனம்கூட்டாட்சியின் இருப்புபண்டம் மூலோபாயம்