Oil Prices Fluctuate Amidst Market Uncertainty.
Oil prices have been rangebound due to the Easter holidays across the Atlantic Basin. Strong US jobs growth and the subsequent appreciation of the US dollar took the steam out of last week’s price rally, but Russia’s alleged production cuts, the prospect of French strikes ending soon, and strong Chinese mobility data have kept prices from falling any lower. ExxonMobil is reportedly in talks with Pioneer Natural Resources to buy the third-largest Permian basin oil producer. Meanwhile, gold prices have been capped by news of US unemployment sliding back to 3.5% amidst strong hiring.