Oil prices are around 1.0% higher today in Asia as trading resumes after the Good Friday holiday. The IEA said 3 million bpd of Russian production would be impacted by sanctions by May, and the Russian Interfax agency said Russian production slipped by 7.50% in the first half of March. With so much volatility in intraday oil prices, and extreme reactions to headline risks, technical levels have become rather irrelevant. In Asia today, gold has resumed its rally, despite the US dollar also strengthening. Failure of USD 1915.00 will signal a retest of important support at USD 1880.00 and possibly USD 1800.00 an ounce.

Source: Libya Today April 18, 2022 11:43 UTC