WTI managed gains today on recovery (record jump in US retail sales) and virus cure hopes (trumping outbreak resurgence fears) pushing WTI back to $38. “China’s shuttering of Beijing’s schools is a significant setback to the country’s recovery from the Covid-19 virus, and it could be a real blow to the petroleum demand recovery outlook, which had been improving,” said John Kilduff, a partner at Again Capital LLC. However, US crude inventories are expected to have fallen last week amid weather-related Gulf of Mexico production losses and a drop in imports. API • Crude +3.857mm (-3.5mm exp) • Cushing -3.289mm • ... (full story)