Oil refinieries and export ports were shut down due to Hurricane Delta, and the clean up effort is already showing signs of progress.
Oil prices are also getting support because Saudi Arabia and Russia may be having second thoughts about raising oil output again next year. OPEC says they expect demand in most developed countries to fall by about 27% over next 25 years.
Stymied oil futures were stopped in their bullish tracks after President Trump tweeted. The crude oil market also lost more ground after the API report showed a surprise increase in crude oil supply.
Delta and Gamma are going to create volatility in the energy markets. No, I’m not talking about the the risk variable of options or the relationship of the opportunity with another underlying variable but Tropical Storm Gamma and Hurricane Delta.
The oil market is on the mend and may have finally found its seasonal bottom. Stimulus hopes, a healing President Trump, and storm fears are giving the oil a risk-on rally.
The best way to explain the market action in the energy complex is to compare it to last night's presidential debate—kind of a mess with a lot of data that does not seem to match the current reality. Market action, to say the least, has been lousy.
Today’s API report may be anti-climactic as the world awaits the U.S presidential debates.
Oil prices are creeping back up on hopes for a relief package.Heavy traffic and industrial data out of China, are raising demand hopes.
Oil prices can’t shake the virus. Reports that U.S. Covid-19 cases jumped over 45,000 in one day in the U.S., and deaths reached 900 turned slightly optimistic market sentiment into a more negative mood. 
Oil prices need a shot of something. The Federal Reserve wants it to be another shot of stimulus and perhaps a shot of a Covid-19 vaccine.