Rob Thummel, Portfolio Manager and Managing Director at Tortoise, joins Yahoo Finance to discuss the demand in oil and impacts of the U.S. heat wave on the energy market.
Stocks rose on Monday, with the three major indexes looking to recover some of last week's steep losses as an initial jolt following the Federal Reserve's updated outlook for rates subsided.
(Bloomberg) -- Oil jumped by the most in a month amid a weaker dollar and as key timespreads surged with expectations for further supply declines at the biggest storage hub in the U.S.Futures in New York climbed 2.8% on Monday to the highest since 2018 and its global counterpart Brent neared the key, psychological $75-a-barrel mark. U.S. equities rose and the dollar dipped, boosting the appeal of commodities priced in the currency. Investors are watching commentary from Federal Reserve officials