Oil prices slid today as the Suez Canal reopened to traffic. The backlog is now currently 422 ships, which could be cleared in 3 and ½ days. All eyes turned to the OPEC+ meeting scheduled for later this week with both major players (Russia, Saudi Arabia) expected to support extending cuts through May. JP Morgan believes OPEC+ will largely roll over its production cuts into May and that Saudi Arabia will extend its voluntary cut by two more months until the end of June “The wobble we have seen in prices means that OPEC+ will likely need to take a cautious approach once again,” bank ING said. “We are of the view that the group will likely hold output levels unchanged.” WTI traded down $1.01 or -1.64% to close at $60.55. Brent traded down $.84 or-1.29% to close at $64.14.