Congressional bill will allow them to use derivatives

Mexico hedges its production each year and now Colombia is looking to do the same.

In general, hedging is always done at the wrong time so you might take this as a sign that oil will rise. That said, there isn't too much widespread talk about corporates hedging.

Here's the story from Bloomberg.

Meanwhile, oil is wrapping up the month on its knees, down $0.97 to $65.22.