Diplomatic efforts involved a proposed Ukraine ceasefire, while trade tensions escalated between the US and both Canada and the European Union through tariffs and retaliatory measures. The Middle East experienced continued prisoner exchange delays. Forecasts indicated a significant increase in US crude oil and natural gas production by 2025, contrasted by concerns over Chinese demand impacting global oil prices, which showed recent fluctuations influenced by the US dollar and recession anxieties. Finally, the provided text detailed the current status and predicted near-term movements in global bitumen prices, noting regional variations and the impact of Iranian New Year holidays on supply and demand.