Oil Pares Gains With U.S. Capitol Protests Shaking Risk Appetite

• Futures move toward unchanged after settling at 10-month highs
• U.S. Capitol under lockdown as rioters swarmed Washington

Oil pared gains late in the session as protests in Washington overtook the U.S. Capitol, overshadowing a draw in U.S. crude inventories and Saudi Arabia’s surprise pledge to unilaterally cut output in the next two months.

Read more on Bloomberg: https://www.bloomberg.com/news/articles/2021-01-05/oil-holds-gains-after-topping-50-on-saudi-pledge-to-cut-output