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Market Brief

Market Brief: April 14, 2021

Crude posted a 1.3% gain on Tuesday, the largest price movement in the last five trading sessions. Gasoline and Distillates closed modestly higher. The bulls are looking to strong traffic data which suggests higher demands and by OPEC’s upward demand revision. Bulls were also bolstered by the API report showing draws in Crude and Distillate inventories. The Bears saw vindication Tuesday by pauses in the use of the Johnson & Johnson vaccine throughout the US. Today we once again await the EIA report which is released at 10:30 EDT.

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