• The Norwegian Krone rallied, reversing most of its previous session losses, as crude oil price surged to multi-week peaks.
   
• Crude oil prices surged to their highest in more than a month, supported by ongoing output cuts and signs of a gradual recovery in fuel demand. 
   
• Saudi Arabia announced last week that it would cut an additional 1 million barrels per day in June, while OPEC+ wants to maintain existing oil cuts beyond June 
   
• International benchmark Brent crude was trading 5.1 percent higher at $34.56 per barrel by 1203 GMT, having hit a high of $34.66 earlier, its highest since April 9. U.S. West Texas Intermediate was trading 7.8 percent up at $32.11 a barrel, after rising as high as $32.21 earlier, its highest since March 16.
   
• USD/NOK trades 0.9 percent down at 10.1305, having touched a low of 10.0342 on Wednesday, its lowest March 16. 
   
• Immediate resistance is located at 10.2723, close above could take it till 10.2873 (20-EMA).
   
• On the downside, support is around 10.0919 break below could take it till 10.0668.