Ukraine’s audacious attack on Russian airfields sent a shockwave through the oil market, but analysts doubt the rally will last as OPEC+ accelerates production hikes.

Russian pro-military bloggers called it “our Pearl Harbor” — though this was no unprovoked attack. For these are — or were — the same bombers which carry the airborne proponent of Russia’s strategic nuclear threat,

The ongoing conflict between Russia and Ukraine continued to stoke supply concerns and geopolitical risk premiums. Adding to supply worries, a wildfire in the province of Alberta in Canada has prompted a temporary shutdown of some oil and gas production, which could reduce supply.

OPEC+, the cartel of oil producers, agreed over the weekend to crank up production. Instead of falling, Brent crude prices are up about 3% to start the week, at a shade under $65 a barrel. Prices are