Oil prices rose marginally month-on-month in April, supported by continued tensions between Russia and the Ukraine, supply outages in OPEC and non-OPEC countries and stepped up crude buying as refiners complete seasonal turnarounds. ICE Brent futures were last trading at $109.85/bbl and NYMEX WTI at $102.10/bbl. Forecast global demand growth for 2014 has been raised marginally since last month’s Report , to 1.32 mb/d, on higher 1Q14 data. Baseline adjustments to 2012 add 0.1 mb/d to the historical average and total demand, now pegged at 92.8 mb/d in 2014. Global supplies rose 700 kb/d month-on-month to 92.1 mb/d in April, with roughly half of […]