Overview

• Brent crude rose to $71.89 per barrel and WTI crude reached $68.48 per barrel, reflecting slight increases influenced by global dynamics.
• Renewed conflict in Israel-Palestine and U.S. actions in Yemen are contributing to heightened market volatility in the Middle East.
• China's mixed economic data, including increased retail sales but declining factory output, alongside ambitious growth targets, are shaping energy demand expectations.
• Russia-Ukraine ceasefire talks continue, with potential implications for sanctions and the return of Russian crude to global markets.
• Venezuela's PDVSA plans to maintain oil exports despite Chevron's license expiration, adding to global supply considerations.