Last week, we were wondering: What could be more pathetic than the sight of President Joe Biden begging OPEC to increase oil production, just to make up for the U.S. and Canadian oil production that he had gone out of his way to impede from the moment he took office?
Oil futures headed slightly higher on Thursday, with global benchmark Brent crude holding ground at its highest price since October 2018, as investors gauged signs of strengthening demand and kept an eye on any potential response to recent price rises by OPEC+.
Crude and fuel price rose on Monday as one of the largest fuel pipeline systems in the US remained largely shut down after a reported cyberattack. The US has declared a state of emergency in 17 states due to the situation.
