Crude oil futures settled 4% higher March 26, clawing back most of the prior session’s losses as the market eyed an extended disruption in the Suez Canal and the likelihood OPEC would hold back supply amid pandemic-weakened demand outlooks.  NYMEX May WTI settled $2.41 higher at $60.97/b, and ICE May Brent was up $2.62 to end the week at $64.57/b. A slower-than-expected demand recovery in the first half of 2021 is likely to be offset by an extended runway for OPEC+ supply cuts, US investment bank Goldman Sachs said March 26. Get S&P Global Platts full coverage: Suez Canal blockage “While the market remains in deficit, concerns are rising over a COVID-variant led […]