- The U.S. denies any deal with Iran to ease sanctions, return to the nuclear accord
- U.S. officials refuted Iran's reports of an impending prisoner swap while pointing out that the two parties still have many negotiations ahead before sanctions are eased
- World powers in Vienna are seeking to broker a U.S.-Iranian deal to revive the nuclear accord
- Russia increased output in April as OPEC+ lifts supply quota
- The country produced around 10.46 MMBbl/d, a 1.9% increase from March levels
- Russia is slated to increase production by another 114 MBbl/d from May to July
- Inda Coronavirus cases hit record-high as the country continues to be devastated by a recent surge
- "We were near pre-covid level in March, but new restrictions and covid wave-2 has temporarily reduced demand equivalent to about 10% of March demand for both personal mobility and industrial goods movement," said A.K. Singh, head of marketing at refiner Bharat Petroleum Corp
- Market analysts are expecting transportation fuels demand to slump further in May, pressuring crude prices further