ICYMI - White House postpones Biden trip to Saudi Arabia

There was plenty of good feeling last week when OPEC boosted its oil output (by a drop in the bucket). US President Biden was reported as headling to Saudi Arabia to meet with the Crown Prince.

Later in the US though we had this:

• President Joe Biden’s planned visits to Saudi Arabia and Israel later this month have been postponed until July, several officials told NBC News on Friday.
• The White House is now planning a broader trip to the Middle East next month, sources said.

Oil has been headling higher, it keeps finding reasons to do so (and the trend is your friend, right?). Earlier hourly hcart:

oil

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term