- WTI is trading $1.32/Bbl lower this morning as inflation concerns cause investors to flee more risky assets
- The closely watched Producer Price Index (PPI) came in this morning at 0.6%, in contrasts with its estimate of 0.3%
- The dollar strengthened by nearly 50 pips in response to yesterday’s inflation numbers, likely pressuring crude prices further
- Colonial pipeline restarts after a cyberattack knocked it offline for five days
- U.S. Energy Secretary Jennifer Granholm said Tuesday that it would take days to fully restore supplies after the pipeline’s restart
- According to Bloomberg, in parts of the U.S. South, three out of every four gas stations are running dry
- Houthi rebels claim responsibility for attack targeting Aramco, Najran airport
- Saudi Arabia announced it had intercepted eight Houthi drones and three missiles
- The Houthi group launches attacks against the Kingdom regularly, though significant damage is rarely reported