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OPEC+ agreed in principle to keep official targets unchanged while discussing a largely symbolic quota increase for May. The Joint Ministerial Monitoring Committee warned that attacks on energy sites and shipping routes are destabilising markets.
The US and IEA had moved to release 172 million and 400 million barrels respectively.
Attacks on energy infrastructure and shipping lanes keep supply risk high, while emergency stock releases offset some of the shortfall. Net effect is continued support for crude and diesel costs.
thenationalnews.comSalim A. EssaidApr 5, 2026After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
