Energy markets are surging amid continued uncertainty over supply levels, due to the crisis in Ukraine. The commodity erased losses from overnight caused by fears over lower demand from a weak global economy. Adding to worries over the availability of oil is the failure of the world's producers to pump out what they've promised. Latest available data show the global cartel OPEC+ is, on average, more than 3.5M barrels short of its daily output goal.

For more on energy markets, we spoke to David Madden, who is a market analyst at Equiti Capital in London.

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