Why I Love To Blog -- Reason #45 -- April 8, 2016

On March 4, 2016, I wrote: Once The Price Of Oil Starts Moving, It Tends To Move Quickly.

Screenshot moments ago:

A single swallow does not a spring make.

From Reuters/Rigzone:

Oil prices rose more than 6 percent on Friday to end with the biggest weekly gain in a month as drawdowns in U.S. crude stockpiles fed hopes that a punishing global oversupply may be approaching a tipping point after nearly two years.

The shutdown of the Keystone crude pipeline to Cushing, Oklahoma supported U.S. crude futures. Oil also drew support after Russia said its crude output fell in April.

Brent crude futures settled up $2.51, or 6.4 percent, at $41.94 a barrel, hitting a session high above $42.

U.S. crude futures closed up $2.46, or 6.6 percent, to $39.72. Earlier, it rose to nearly $40.

For the week, both benchmarks rose about 8 percent, their most since the week ended March 4.

"We are starting to draw crude inventories in the U.S." said Scott Shelton, energy broker with ICAP in Durham, North Carolina. "Run rates are rising and U.S. production is falling."

"This is very different I think than what was expected. The market perceives that these draws may continue as the Keystone outage will increase the likelihood," Shelton said.

U.S. crude stockpiles fell by nearly 5 million barrels last week versus analysts forecasts for a build of 3.2 million barrels.

U.S. energy firms cut oil drilling rigs for a third week in a row, adding to improving fundamentals.

Aside from planned oilfield maintenance works in Norway and Britain that are supporting Brent, global crude prices have also been helped by last month's disruptions in Nigerian supplies at a venture operated by Royal Dutch Shell.

"Put Doha on top of it, and your eyes are looking towards the tightening of the market," -- analyst.

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Gun-Free Installations

I thought the bureaucrat-in-chief had declared US military installations gun-free zones. Breaking now:

SAN ANTONIO (AP) -- Texas authorities say at least one person has been killed in a shooting at an Air Force base in Texas.

Bexar (bayr) County sheriff's spokesman James Keith said Friday that deputies have responded to reports of an active shooter at Joint Base San Antonio-Lackland, which is the home of Air Force basic training.

Yellow River, Christie