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Oil above $37 as U.S. supply tightens, still near 11-year low

“Some traders playing spot on the downside are getting out and calling it a year,” said Tariq Zahir, managing partner at Tyche Capital Advisors. Oil demand in 2015 was exceptionally high and at current prices, demand is going to remain strong next year,” said Olivier Jakob, analyst at Petromatrix. Crude inventories, which were expected to rise, fell 5.88 million barrels, the Energy Information Administration said.

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Oil above $37 as U.S. supply tightens, still near 11-year low