The weekly crude oil inventories report is delayed this week due to the New Year’s Day holiday. So, the report will be released tomorrow instead of the usual Wednesday release date. Last week, the EIA reported a 5.5 million barrel drawdown which took markets by surprise and helped crude prices continue to rally. The market is now forecasting a subsequent 3.1 million barrel drawdown which should see prices higher again. Oil Higher on Trade Deal News The recent upside in oil prices has largely been driven by relief over the trade deal between the US and China. The reaction to the deal has been clearly visible in crude ... (full story)