Russia
The rise in prices is fueled by geopolitical tension and supply concerns
Mixed U.S. inventories impact crude oil gains, production offset by fuel demand
Concerns arose from attacks on Russian refineries and potential conflict escalation in the Middle East
Iraq and Nigeria lead reductions, maintaining OPEC's commitment to supply restraint
China and U.S. demand boost prices amid Middle East conflict
China's manufacturing activity expanded for the first time in six months in March
Russia's commitment to deeper production cuts as a key factor influencing the crude oil market in the coming months
Market concerns rise as major producers hold output policy steady
Globally, prices continued to rise above the mid-$2,150 mark
The attacks caused potential disruptions to oil capacity, estimated at 900k bpd
Rising tensions fuel fears of supply disruption
Fed, PMIs awaited for more economic cues
Surging prices fueled by refinery activity, China demand, and Middle East disruptions
The recent attacks on refineries added a risk premium of $2-$3 per barrel to crude prices
Prices sank below $2,150
Surprise decline in U.S. crude stockpiles supports prices
Surprising drop in U.S. oil and gasoline inventories points to increased demand from top fuel consumer
Mixed signals from U.S. jobs data impact prices
Concerns over shipping attacks and Fed interest rate cuts impact crude futures
Commitment to enhancing trade cooperation, continuity of joint efforts emphasized
Market focus shifted to supply-demand balance as Middle East concerns ease
