Flooding in China gave oil a lift yesterday but we're looking at a tight market that OPEC+ is allowing to run hot after a long period of low prices. It's hard to see the rally easing up as long as OPEC+ continue to take this approach. If Nord Stream 2 is approved, we could see energy prices correct quite aggressively. But given the political sensitivity around the pipeline, it would be a bold move to rush the decision at this point. CRAIG ERLAM, ANALYST AT OANDA

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