Oil: Snapping a four-day decline - BBH

Research Team at BBH, notes that the oil is snapping a four-day decline on the news that US output fell by 113k barrels a day last week, the biggest drop in eight months.

Key Quotes

“Coupled with a Canadian wildfire that is threatening as much as one million barrels a day in Canada are helping drive oil prices higher. Several oil companies have announced they are cutting output in Canada and/or closing pipelines.”