Crude futures settled higher Feb. 5 amid tightened supply outlooks, demand optimism and a weaker US dollar. NYMEX March WTI settled up 62 cents at $56.85/b and ICE April Brent was up 50 cents at $59.35/b. Oil market fundamentals have tightened in recent weeks as OPEC+ production cuts have shored up supply outlooks and a second wave pandemic showed signs of receding in the US, UK, and China. The seven-day moving average of new COVID-19 infections in the US fell to 130,569 on Feb. 4, according to data from The COVID Tracking Project, putting it at levels last seen in early-November. Britain is currently on track to supply at least one vaccine shot to all […]