The crude oil stocks build reported by the EIA was mildly bearish to price. But it was the news of the Iranian missile attack that really impacted prices.
Oil and gold went on a risk on/risk off the ride after Iran struck back at U.S. military bases. The initial reaction to the event, or as Iran called it “Operation Martyr General Soleimani”, was a fear-driven rally in gold and petroleum and a sharp down move in stocks. Fears that this attack could lead to the all-out war between Iran and the U.S. caused many to run for cover.
Oil prices are pulling back as they await what Iran says will be a swift response to the killing of Gen. Qassem Soleimani.  The supreme leader of Iran, Ayatollah Ali Khamenei, cried at the funeral of slain Gen. Qassem Soleimani.
Oil prices are surging because the oil trade believes that the glovers are off after President Trump’s ordering of a U.S. air-strike that killed Qassim Soleimani and other Iranian military leaders, that were planning an attack on U.S. interests.
Democrats are dreaming of a green Christmas! Not green as money in your pocket, but green as far as battling what they believe is our biggest foe, climate change. 
Oil and stocks seem immune to one of the saddest days in our country. House Democrats decided to show disdain for our constitution and American voters and used impeachment as another political stunt.
Crude oil prices have been on a rally since the beginning of December as OPEC and Russia agreed on deeper cuts in production and the agreement of Phase One of the US-China trade deal.  The crude oil stocks draw added to the bullish price sentiment.
Yet despite this big increase in supply, the big picture for oil looks bright as demand expectations are rising. A slew of strong U.S. economic data should point us in the right direction.
Oil prices are cautiously higher as the market wants to see action and not just promises on the U.S.-China trade agreement.
The crude oil market is caught up in the phase one holiday mood, closing back above $60.00 a barrel for the first time since the drone attack on Saudi oil facilities. Progress on trade and assurance that we would not see new Chinese tariffs go in effect on China added to the lofty price levels.