Demand for oil is going up

[dan_s]

You might hate Trump, but he is doing something right when it comes to the economy. Lower taxes and fewer regulations does help businesses, so they expand and hire more people.
More people working = more demand for transportation fuels.

Hiring in the United States jumped last month to its highest level since January as U.S. employers shrugged off global trade conflicts and added 266,000 jobs.

The unemployment rate declined to 3.5% from 3.6% in October, matching a half-century low, the Labor Department reported Friday. And wages rose a solid 3.1% in November compared with a year earlier.

The healthy job gain runs against a widespread view that businesses are struggling to find workers with unemployment so low. Persistent hiring should help keep consumers spending — a key engine of growth as businesses have cut their investment spending and exports have stalled.

MY TAKE: A "Phase One" trade agreement between the U.S. and China will push WTI over $60/bbl even if the agreement is just a truce not to increase tariffs.