The closing price of light crude oil exceeded $65

According to news from the Rig Zone on May 11, oil prices have risen, supported by a weaker U.

On Tuesday, New York crude oil futures prices rose by less than 1%.

Colonial Pipeline is working to restart its largest petroleum products system in the United States after a cyber attack caused its business to shut down.

Mizuho Securities (Mizuho Securities) futures department head Bob Yaweig said: “The lower US dollar index explains the small increase in oil prices.

Although demand concerns (especially in India) caused by the new crown epidemic have limited certain gains, US crude oil prices have risen by 2.

Louise Dixon, an analyst at the consulting firm Resta Energy, said that traders expect the closure of the Colonial Pipeline to be gradually resolved.

price:

The price of WTI crude oil for June delivery in the New York market rose 36 cents to close at $65.

The July settlement price of Brent crude oil rose by 23 cents to close at US$68.

　　US gasoline futures rose 0.

　　At the same time, the "black" impact of Colonial is spreading from oil refining to shipping.

　　Kilduff said: "We are far from the predicament of Colonial being attacked.

　　FGE data shows that due to the closure of the Colonial Pipeline, approximately 3.

　　According to a Bloomberg survey, US crude oil supplies are expected to decline last week.

　　Qiu Yin compiled from Rigzone

　　The original text is as follows:

　　Light Crude Ends Session Above $65

　　Oil rose as a weaker dollar lent support and offset a burgeoning pile up of crude in the US Gulf Coast as refineries there cut runs in response to the Colonial Pipeline shutdown.

　　Crude futures in New York rose less than 1% Tuesday.

　　Colonial Pipeline Co.

　　"The dollar index trading lower explains the slight increase in oil prices," said Bob Yawger, head of the futures division at Mizuho Securities.
The weak dollar may have saved the day for crude oil, which was facing pressure from refiners being forced to store barrels they can't feed into the pipeline, he said.

　　US crude oil prices are up 2.
7% so far this month even with coronavirus-induced demand concerns, particularly in India, limiting rallies.
Still, the Organization of Petroleum Exporting Countries on Tuesday lifted its forecast for the amount of crude it will need to produce and the group now sees a small decline in US supplies this year, mostly due to the Texas freeze in February.

　　Traders are expecting “a gradual resolution to the Colonial Pipeline shutdown,” according to Louise Dickson, an analyst at consultant Rystad Energy.
“The market is again looking to Asia, Covid-19 cases, and the next signals for oil demand outlook.
”

　　Prices:

　　West Texas Intermediate for June delivery rose 36 cents to settle at $65.
28 a barrel in New York

　　Brent for July settlement gained 23 cents to end the session at $68.
55 a barrel

　　US gasoline futures rose 0.
3% to settle at $2.
1399 a gallon

　　Meanwhile, the knock on impact of the Colonial disruption is rippling through to everything from refining to shipping.
Among processors, Total SE scaled back activity in a key unit at its Port Arthur, Texas, refinery, and Citgo Petroleum Corp.
also cut rates at its Lake Charles, Louisiana, plant.
There's been a rush to book oil tankers as traders seek to redress the supply imbalance caused by the stoppage.

　　“We are far from out of the out of the woods with the Colonial situation,” said Kilduff.
“A scare among consumers is increasingly likely, where a run on gas stations may develop more broadly, especially if there is no resolution by the end of the week.
"

　　The US East Coast has lost about 3.
6 million barrels of gasoline supply due to the Colonial Pipeline disruption, with the region losing an additional 1.
2 million barrels each day the outage continues, according to FGE.

　　In the US, crude supplies are expected to have dropped last week, according to a Bloomberg survey.
The industry-funded American Petroleum Institute will report its supply tally later Tuesday, while government data will be released on Wednesday.