End of day report April 3rd
- Mainland China will "definitely react" when House Speaker McCarthy meets the Taiwanese President, says Taiwan will "lose much more than what they can gain from this meeting", according to Global Times Huxijin
- Trump to fly to New York for court surrender
- Oil prices holding big gains after surprise OPEC+ production cut m(WTI up above $80, up over $4.50 on the day)
Today was fairly quiet as Europeans begin taking their Easter holidays, however having felt left out for a few weeks the crude complex was the headliner today following the surprise weekend announcement of voluntary output cuts by OPEC+ members totalling over 1mln BPD to year-end, with WTI and Brent hitting highs of USD 81.69/bbl and 86.44/bbl, respectively. Saudi Arabia is set to reduce production by 500k BPD, while Russia will also cut by 500k bpd until year-end as a precautionary measure against further market volatility.