Oil remains bid over $78, despite the unreliable measure that is the CPI stating that the US economy is deflating, refer to PPI and PCE indicators for a better take. Energy costs are still spilling over into tight labor markets and vice versa. Oil demand is up, not down. Wars are notoriously inflationary and so is the 'demand' for oil to fuel them. Eyes on Ukraine/Russia and the middle east conflicts.

  *Oil rises on Lower US/European inventories.

 *Oil remain bid, rate cut hopes.  Falling US inflation.

 *Ukraine sees Russian oil production facilities as legitimate  targets:

    - Ukrainian drones strike Russian oil facilities 

    - Bashkiria strike signals increasing range of Kyiv's drones 

    - Ukraine says it reached drone production parity with Russia