Time spreads are widening today and that's helping the supply/demand picture. In geopolitics, the US is leaning on Europe to cut off Russian oil altogether while India and Russia grow closer.
Looking ahead, OPEC+ will meet on Sunday and it should be the first meeting in awhile where fresh barrels aren't added.
Technically, there isn't much standing in the way of a return to $70 if today's highs break.
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