Petroleum futures settled higher Dec. 23 on US dollar weakness following news of a possible post-Brexit deal, and on inventory draws reported by the US Energy Information Administration. Not registered? NYMEX front-month crude settled at $48.12/b, up $1.10/b, while ICE front-month Brent settled at $51.20/b, up $1.12. NYMEX front-month RBOB settled at 1.382/gal, up 4.25 cents, while front-month ULSD settled at 1.4975/gal, up 3.59 cents. OANDA analyst Ed Moya attributed the rally primarily to US dollar weakness following news that the UK and European Union were getting close to a post-Brexit trade deal. According to the Wall Street Journal, the deal could be announced later Dec. 23. Additional coverage Commodities 2021: Global oil supply set for shake-up in 2021 as crude, refining squeeze resumes Video: Five commodity themes for 2021 Oil Markets podcast: 2020 […]