- Global oil demand is expected to pick up more quickly this year, but supply is still growing at a faster pace leading to a rise in inventories in Q1 of 2018, according to the IEA's latest monthly report.
- Crisis-hit Venezuela could soon tip the crude market "decisively into deficit," added the Paris-based organization, while warning that a trade war would have "strong consequences" for oil demand.
- Crude futures -0.1% to $60.88/bbl.
- ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, USOD, UBRT, DBRT, OILD, OILU, USAI