Oil prices gained over 2% on Wednesday amid the release of U.S. consumer price data for March showing consistent inflation pressure that has analysts predicting the Federal Reserve will raise interest rates in May
Pioneer Natural Resources shares have gained 6% so far on Monday following news reports that ExxonMobil is considering an acquisition of the pure-play shale producer in the Permian basin.
The European Union’s embargo on Russian oil products, which went into effect on February 5, has resulted in the diversion of Russian diesel not only to Asia, Africa and the Middle East, but also increasingly to Latin America