Oil claws back ground
A market that doesn't go down on bad news is a strong one.
That may be what we're seeing in oil today as it claws back to $68.10 on the day from a low of $66.69 after the White House statement calling for OPEC to increase production.
There was also a 30-cent wobble lower in crude on the weekly EIA inventory data but now it's at the highs of US trading and down just 20-cents on the day.
Some of that is a credit to a weaker dollar after the CPI report but overall the picture in crude is a constructive one.