Oil prices rose today despite OPEC+ confirming they intend to increase production. OPEC, Russia, and allies are sticking to their plans to ease production restrictions beginning in May, in a sign they think the recovery will be sustained enough to increase supply.

The market is tending to focus more on the bad news from India and Japan at present, where the number of new coronavirus cases has risen sharply, prompting increased mobility restrictions to be imposed,

DAPL’s latest petition was declined today by US Court of Appeals for D.C. Energy Transfer Partners has struggled with many roadblocks such as Native American protests, violence during construction and even a court ordered shut down.

Oil prices traded down for the day as the market is back in wait and see mode. Japan, the world’s No.4 oil importer, is expected to announce a third wave of lockdowns affecting Tokyo and three western prefectures.

Demand jitters were thrust back into the spotlight yesterday amid a sharp rise in global coronavirus cases. Nowhere is this more obvious than in India,

Given India’s position as a major crude oil importer in the world, new restrictions would be very bad for the energy complex

Oil prices traded down slightly but closed up for the week as financial markets hit new records and we had some positive economic data from the US. US retail sales surged in March, up 9.8%, much better than expected.

Oil prices rallied today, buoyed by a strong crude inventory draw which is boosting optimism about rising demand.

“We’ve been trading in a range, and need clear demand data and direction on U.S. inventories to break out of this trough,”

Geopolitical tensions are rising as Yemeni rebels attacked Saudi refineries and an attack occurred at an Iranian nuclear facility