JP Morgan raises its PT for GM to $120 from $110.

Yemen's deputy foreign minister told Al Arabiya that data refute Houthi claims of a blockade, accused the group of rejecting the peace process and of resorting to piracy and diversionary tactics, and said the Houthis use civilians as a bargaining chip. He said the government has resumed oil exports, that its first, second and third options are all peace, and that it has given the Houthis a final opportunity, warning the state cannot remain in a neither-war-nor-peace status.

WTI crude rose about 4% intraday to $88.42/bbl. Brent crude gained over 2% to $91.17/bbl.