Nearly half of the fuel consumed in the eastern U.S. passes through the Colonial network.
While some analysts have said oil demand may never reach pre-pandemic levels, Goldman Sachs said it expected this by the end of the year and predicted Brent would hit $80 and WTI $77 within six months.
Second agreement is with BP.
Top oil exporter Saudi Arabia has cut the June official selling prices (OSPs) of all crude grades it sells to Asia, sources say.
The project had been delayed due to the pandemic.
Production of critical minerals needed for clean energy technologies was much more concentrated than in the oil market, the IEA says.
Petrobras will start offering contracts backed by the U.S. Henry Hub reference price, in addition to contracts indexed to the international Brent oil benchmark, the company said in a statement.
The oil price movement from the last week is somewhat reflective of the difference in the pace of economic recovery between the U.S., where the economy continues to show signs of a robust recovery, and the Eurozone, which has fallen back into recession, says Stratas Advisors in its latest forecast.
Weakened demand has led to six tankers being diverted to Asia, Europe and Kuwait.
Berkshire Hathaway in March proposed building 10 natural gas-powered plants that would supplement the capacity of the Electric Reliability Council of Texas (ERCOT), which provides electricity to most of the state.