West Texas Intermediate (WTI) crude rose more than 2%, breaking above the $82 level for the first time since late October.
Geopolitical Tensions: Ukrainian drone attacks on Russian refineries have increased geopolitical risks in the region, raising concerns about possible disruptions to oil shipments.

China Economic Data: China’s factory output and investment exceeded expectations at the start of the year. In addition, China refined a record amount of crude oil, suggesting that demand for oil remained strong in the world’s second-largest economy.