HOUSE_OVERSIGHT_030856.txt

The document discusses the state of oil markets as of January 8th, 2015. It mentions that crude oil prices were relatively stable for most of the day before selling off in the afternoon and testing $50 BRE again. The document also discusses some floating storage interest happening, with major phys trading firms booking long-term tankers for this as long-term charter rates are cheaper. In politics, the Senate committee voted 13-9 to have Keystone "bypass" presidential approval. If the Senate passes this bill, Obama may have to veto it, and it is not clear that the Senate has 67 votes needed to overturn the veto.